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US, EU do not consider Russia’s disconnection from SWIFT anymore — newspaper

The US and the EU are considering the response in case of a military operation of Russia against Ukraine for several weeks

BERLIN, January 17. /TASS/. The United States and the European Union are not considering an option of disconnecting Russia from SWIFT and are discussing target economic sanctions against the largest Russian banks instead, Handelsblatt newspaper reported on Monday, citing sources in the German government.

The US and the EU are considering the response in case of a military operation of Russia against Ukraine for several weeks, the newspaper said. Cutting Russia from SWIFT is "too delicate" for participants in talks, the newspaper said. This step can lead to a short-term destabilization of the financial market and promote the development of an alternative payment infrastructure without domination of the West in the midterm, Handelsblatt said.

Talks between the EU and the US are now aimed at devising sanctions against major Russian banks, the newspaper said. Germany insists on excluding this item to continue paying for oil and gas import from Russia. US authorities did not respond to a request from TASS to confirm this piece of information. German authorities also did not comment on that.