BRUSSELS, March 27. /TASS/. The European Union does not intend to modify the sanctions regime against Russia in the near future, nor to allow connection of Russian banks to the SWIFT system, which may complicate the implementation of the agreements reached by Russia and the United States as a result of consultations in Saudi Arabia, the Euractiv portal reported with reference to European diplomats.
According to them, the US administration will need the consent of Brussels to lift any anti-Russian sanctions to initiate the ceasefire agreement in the Black Sea, and achieving this may be difficult.
"Everyone is still analyzing what this means or could mean. But so far, it’s a statement [about the agreements between Russia and the US] we have had no involvement in. Before the sanctions renewal (in July 2025 - TASS), nothing changes, and we’ll work on nothing to be changed because Russia itself hasn’t changed nor have its goals," one of the EU diplomats told Euractiv.
The European Commission representative clarified that the EU still considers the end of the special military operation in Ukraine and the complete withdrawal of Russian troops from territories that the West considers Ukrainian as the main condition for revising the sanctions regime.
Euractiv notes that since the SWIFT system is based in Belgium, it falls under European rules and EU legislation on sanctions.
"SWIFT cannot connect Russian banks to the network unless the EU changes its sanctions' legislation," said Janis Kluge, senior associate at the German Institute for International and Security Affairs.
He added that in theory, an EU state, in particular Hungary, could try to block the extension of sanctions in July if Russian banks are not reconnected to SWIFT. The expert believes that Washington will not be able to force Brussels and SWIFT to connect Russian banks.
"[US President Donald] Trump could also potentially try and pressure SWIFT, which would make their lives very difficult, but it cannot go against EU rules," Kluge said.
According to the publication, Washington may try to resort to a workaround for transactions with Russian banks that would not require their connection to SWIFT. Analysts believe that the United States may open separate accounts for Russian banks under American jurisdiction, but, according to them, this would be "cumbersome, tedious and slow."
Expert consultations
On March 25, the Kremlin issued a statement following expert consultations with Washington. In particular, it states that Russia and the United States have agreed to continue working to achieve a lasting and durable peace. The parties also agreed to ensure the implementation of the Black Sea initiative, including ensuring the safety of navigation, and also agreed to develop measures to halt fire on the energy sector of Russia and Ukraine for 30 days from March 18. The agreements between Russia and the United States on the Black Sea will come into force after sanctions are lifted from the Russia Agricultural Bank and other banks providing trade in the agro-industrial sector, the Kremlin reported.