Central bank is huge given ~70% of their holdings are USD or Euro dominated. Interesting to see the ramifications of this over the next week.
Some? Take em all, Short and tall, watch ’em fall
Come on boys take ’em all!
In addition to freezing assets of the Russian Central Bank. Now this will hurt them for real. Finally we are doing something right.
Incredible. I was doubting whether it would really happen.
Some? Holy! Cut off the entire country, for god sake!!! Yesterday was late. They may not even realize that we no longer live in Europe we knew. Yes, we’ll be a little poorer. But Ukrainians are dying for the freedom of their children!
Excellent stuff.
Wow, u can just freeze 650 billion $ of foreign central bank
Before anyone bitches about “Some”.
This is just how it works. We cut the major / selected banks, then if Putin goes on we cut more banks. If we cut everything at once Putin can use that against us. Along the lines off “See the west only wants you to suffer”.
The thing with SWIFT is, if you cut it entirly everyone in Russia is effected. Which is not the way. We need to proof to the Russian people that they are not the target.
Also it may create a run for the money of the unsactioned banks from normal russians depleting their reserves ( u/Paul_the_surfer )
The key word is “some”, unfortunately :/
Great. I wish it would be all banks but it is a good start (my bank is already sanctioned though).
Some Russian banks? Is it me or does this make it kind of pointless?
I don’t think leaving “some” banks will build good will with the Russian people. Far too many have drank to Putin kool-aid. I don’t want people to needlessly suffer, but war is war. I would send them back to the financial middle ages. The whole entire country. Citizens either take the dictator out or live with the consequences.
Some banks …
Disgrace tbh
Ukraine chose a comedian as a President but he proved to be a statesman.
Same time, us in EU chose polititiants as leaders and we are left with clowns.
Beyon embarassing.
I cannot be more sorry Ukrainians 🙁
Well it is deserved, i guess. Really sucks to be a citizen tho.
Turn of the app store and Google play and make windows update run every day.
> Specifically, we commit to undertake the following measures:
>First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.
>Second, we commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.
>Third, we commit to acting against the people and entities who facilitate the war in Ukraine and the harmful activities of the Russian government. Specifically, we commit to taking measures to limit the sale of citizenship—so called golden passports—that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems.
>Fourth, we commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions. As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world.
>Finally, we will step up or coordination against disinformation and other forms of hybrid warfare.
>We stand with the Ukrainian people in this dark hour. Even beyond the measures we are announcing today, we are prepared to take further measures to hold Russia to account for its attack on Ukraine.
[deleted]
The Central Bank freeze is great, that might really fuck with them. The extent of the SWIFT cutoff not so much, especially after Ukrainians seemed to understand that we were on board with total sanctions. Hopefully there will be some more pressure in this regard.
Let’s not forget Belarus.
Not harsh enough I’m afraid.
Disconnect all, please
[deleted]
Why don’t they just cut all of Russia off from SWIFT? Not just some Russian banks.
What about Belarus?
Why only some banks?
This seems like a step into the right direction.
It should become clear as day to every Russian, that the future syate of Russia is very closely intertwined with the future of a sovereign Ukraine
> First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. T
Does it mean not all Russian banks are concerned or it’s just a figure of speech? Partial ban wouldn’t make much sense.
I’m happy this is happening, finally! But, why are some Russians banks still going to be connected to Swift? Couldn’t Russia funnel all their transactions through the still connected banks. Isn’t that leaving a back channel open?
Payments for gas and oil are still possible. So it’s a nothing burger.
NATO can’t fight directly in Ukraine but their soldiers can take a vacation for a week in Ukraine 😉
Why only “some”?
Why just some banks, what are the criteria of choosing, where is the list?
some? SOME???? why not all you bastards!
“Some” banks, and after you gave them a 3-day notice to start liquidating assets. Genius. With that and China’s support, we’re clearly making progress. /s
Addendum: grow some balls and cut off Belarus and China too haha. It’ll cost me my job, but we’ve been putting all our eggs in one basket for too long. You do business with China, China does business with Russia. You do business with Russia. You fund this war.
37 comments
No list of which banks.
And the Central Bank.
Will be interesting to see the Ruble on Monday.
Central bank is huge given ~70% of their holdings are USD or Euro dominated. Interesting to see the ramifications of this over the next week.
Some? Take em all, Short and tall, watch ’em fall
Come on boys take ’em all!
In addition to freezing assets of the Russian Central Bank. Now this will hurt them for real. Finally we are doing something right.
Incredible. I was doubting whether it would really happen.
Some? Holy! Cut off the entire country, for god sake!!! Yesterday was late. They may not even realize that we no longer live in Europe we knew. Yes, we’ll be a little poorer. But Ukrainians are dying for the freedom of their children!
Excellent stuff.
Wow, u can just freeze 650 billion $ of foreign central bank
Before anyone bitches about “Some”.
This is just how it works. We cut the major / selected banks, then if Putin goes on we cut more banks. If we cut everything at once Putin can use that against us. Along the lines off “See the west only wants you to suffer”.
The thing with SWIFT is, if you cut it entirly everyone in Russia is effected. Which is not the way. We need to proof to the Russian people that they are not the target.
Also it may create a run for the money of the unsactioned banks from normal russians depleting their reserves ( u/Paul_the_surfer )
The key word is “some”, unfortunately :/
Great. I wish it would be all banks but it is a good start (my bank is already sanctioned though).
Some Russian banks? Is it me or does this make it kind of pointless?
I don’t think leaving “some” banks will build good will with the Russian people. Far too many have drank to Putin kool-aid. I don’t want people to needlessly suffer, but war is war. I would send them back to the financial middle ages. The whole entire country. Citizens either take the dictator out or live with the consequences.
Some banks …
Disgrace tbh
Ukraine chose a comedian as a President but he proved to be a statesman.
Same time, us in EU chose polititiants as leaders and we are left with clowns.
Beyon embarassing.
I cannot be more sorry Ukrainians 🙁
Well it is deserved, i guess. Really sucks to be a citizen tho.
Turn of the app store and Google play and make windows update run every day.
> Specifically, we commit to undertake the following measures:
>First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.
>Second, we commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.
>Third, we commit to acting against the people and entities who facilitate the war in Ukraine and the harmful activities of the Russian government. Specifically, we commit to taking measures to limit the sale of citizenship—so called golden passports—that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems.
>Fourth, we commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions. As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world.
>Finally, we will step up or coordination against disinformation and other forms of hybrid warfare.
>We stand with the Ukrainian people in this dark hour. Even beyond the measures we are announcing today, we are prepared to take further measures to hold Russia to account for its attack on Ukraine.
[deleted]
The Central Bank freeze is great, that might really fuck with them. The extent of the SWIFT cutoff not so much, especially after Ukrainians seemed to understand that we were on board with total sanctions. Hopefully there will be some more pressure in this regard.
Let’s not forget Belarus.
Not harsh enough I’m afraid.
Disconnect all, please
[deleted]
Why don’t they just cut all of Russia off from SWIFT? Not just some Russian banks.
What about Belarus?
Why only some banks?
This seems like a step into the right direction.
It should become clear as day to every Russian, that the future syate of Russia is very closely intertwined with the future of a sovereign Ukraine
> First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. T
Does it mean not all Russian banks are concerned or it’s just a figure of speech? Partial ban wouldn’t make much sense.
I’m happy this is happening, finally! But, why are some Russians banks still going to be connected to Swift? Couldn’t Russia funnel all their transactions through the still connected banks. Isn’t that leaving a back channel open?
Payments for gas and oil are still possible. So it’s a nothing burger.
NATO can’t fight directly in Ukraine but their soldiers can take a vacation for a week in Ukraine 😉
Why only “some”?
Why just some banks, what are the criteria of choosing, where is the list?
some? SOME???? why not all you bastards!
“Some” banks, and after you gave them a 3-day notice to start liquidating assets. Genius. With that and China’s support, we’re clearly making progress. /s
Addendum: grow some balls and cut off Belarus and China too haha. It’ll cost me my job, but we’ve been putting all our eggs in one basket for too long. You do business with China, China does business with Russia. You do business with Russia. You fund this war.
Finally, the EU proving that it has resolve