EU considering SWIFT sanctions on 20 Russian banks as Russia significantly escalates the war in Ukraine with massive bombardments across the entire country

Published May 25, 2025 | By NewsJive.com

Russia has reportedly launched a major offensive in the war and has begun capturing territory at an increasing pace, carrying out large-scale attacks on vast parts of Ukraine with drones and missiles in recent days, not least the capital Kiev has been hit with strikes.

At the same time, the EU is now reported to be seeking additional sanctions against Russia.

The EU is reportedly preparing a new package of sanctions that includes disconnecting over 20 Russian banks from the international SWIFT payment system, lowering the price cap on Russian oil, and imposing a ban on the Nord Stream gas pipelines, according to Bloomberg.

So far, SWIFT sanctions have proven largely ineffective, as similar measures were already introduced back in 2022 without any significant impact on Russia.

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