May 17, 2022

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Ukraine-Russia war: Biden decides to support Ukraine, all will expel Russians from SWIFT

In a note to Secretary of State Anthony Blingen, Reuters reports that Joe Biden has instructed the United States to provide $ 350 million in military assistance to Ukraine through a foreign aid law to help protect the country.

Blingen did not say what weapons Washington would like to supply to the opposition. The United States has previously shipped Javelin anti-tank weapons and ammunition, including air defense systems. In January, the United States authorized Kiev to supply US-made, unmanned, mobile-launched Stinger anti-aircraft missiles to Latvia and Lithuania.

In another decree, Biden already authorized another military aid on Friday night and then approved up to $ 250 million in public assistance to Ukraine. A source close to the matter said the government had asked for $ 6.4 billion in additional funding from Congress to help with Ukraine’s security needs. WSJ.

For now, the Ukrainian military will be diligent against force labor. The invasion ordered by Vladimir Putin on Thursday did not reach its target, Russian armored personnel did not reach Kiev, and only a few tanks of special forces and air units besieged the city. Melitopol – still in the hands of security forces against Russian claims According to reports. For this reason, many countries send them arms and other military assets, including the Netherlands and France. Czech RepublicLatvia, Poland and Lithuania.

Additional financial constraints

The European Union is close to supporting Russia’s withdrawal from the Swift financial news organization due to the Ukraine invasion, as Italy has reviewed its previous concerns and will publicly support the plan if other members of the camp support it. The last reluctant state is said to be Hungary, but according to the Polish government, there was also a cabinet headed by Victor Orban. Ready to break the barrier.

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The Reuters The European Central Bank and the European Commission assess the impact of such action on the economy of the state community so that member states can take action. Removing Moscow from the system would require the consensus of 27 EU countries. Joe Biden’s cabinet has also confirmed that Russia’s ban on SWIFT is still on the agenda.

Biden’s perseverance is also surprising, as many of Wall Street’s big banks have said that excluding SWIFT from the financial reporting system could have long – term consequences, damaging the world economy and undermining the purpose of sanctions. To Bloomberg.

JPMorgan Chase & Co. And organizations including Citigroup have suggested that Washington should be with other types of sanctions to punish Russia for its occupation of Ukraine. Other banks with less international exposure welcomed the idea, and officials said it would be a manageable move. Representatives of the banks did not want to comment.

According to preliminary estimates, the lion’s share in exposing nearly $ 30 billion (approximately HUF 9,990 billion) of foreign banks operating in Russia lies with European debtors. President of France Emmanuel Macron Not flexible thoughGerman Chancellor Olaf Scholes, who voted no on Thursday, also urged support for the plan.

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