US and EU to cut off some Russian banks from SWIFT

 

US and EU to cut off some Russian banks from SWIFT

The US and EU have committed to new measures meant to block some Russian banks fr om SWIFT financial system. The decision has been announced in a joint letter, signed by the United States, UK, Canada, and European allies.

On February 24, Russia launched a full-scale invasion of Ukraine, with its military forces trying to gain control over Ukrainian cities by targeting the country’s critical infrastructure, strategic military facilities, plants, bridges, and residential buildings. The Ukrainian government has been asking the international community to impose economic sanctions on Russia for months, including to cut off Russia from SWIFT — the international payment system used by banks to send money around the world.

Apart from the SWIFT ban, the order lays out new measures to prevent Russia’s central bank “from deploying its international reserves in ways that undermine the impact of our sanctions,” as well as lim it the sale of citizenship, so called golden passports, that let wealthy Russians with ties to the Russian government “become citizens of our countries and gain access to our financial systems.”

On February 27, European Commission President Ursula von der Leyen announced that the European Union will ban Russian state-run media outlets from airing in the EU, as well as bar Russian aircraft from flying in EU airspace.

Meta (formerly Facebook), has also announced it has restricted access to several accounts in Ukraine, including those belonging to Russian state media organizations.

Following serious internet outages in Ukraine that started on February 23, Ukraine's Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov asked the founder and CEO of Space X Elon Musk to provide Starlink service to Ukraine amid Russia’s attacks. SpaceX's Starlink service offers high-speed broadband access via a massive constellation of satellites in low Earth orbit.

“while you try to colonize Mars -- Russia try to occupy Ukraine! While your rockets successfully land from space -- Russian rockets attack Ukrainian civil people! We ask you to provide Ukraine with Starlink stations and to address sane Russians to stand,” Fedorov wrote.

On Sunday, Elon Musk announced Sunday that the Starlink satellite internet service had expanded coverage to Ukraine.

“Starlink service is now active in Ukraine. More terminals en route,” Musk tweeted.

Cybersecurity Help’s statement on the critical situation in Ukraine

On February 24, people in many cities and towns across Ukraine woke up to the sounds of explosions and artillery fire, as the Russian Federation launched a full-scale invasion of the country. Such actions are unacceptable, political ambitions of any man aren’t worth of blood, tears, and destruction of millions of lives. We give our full support to the Ukrainian people in these hard times. No more war!

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