The US and EU are almost Ready with Sanctions Package for Russia in case they Attack Ukraine

The United States and the European Union are almost ready with a comprehensive package of sanctions that Russia will impose if it invades Ukraine, Reuters reported, citing US and European official sources.

The sanctions do not provide for the exclusion of Russia from the international financial payment system SWIFT. However, they could affect Russian state-owned banks VTB and Sberbank. Other possible sanctions are aimed at Russian exports and specific oligarchs said three sources familiar with the discussions.

Russia's exclusion from SWIFT is not being discussed due to strong objections from European countries.

As for VTB and Sberbank, the US Treasury Department has already imposed sanctions on them following the annexation of Crimea by Russia. The two leading Russian banks, for example, have limited ability to raise capital in the United States. However, the sanctions under discussion would have much more serious consequences.

Yesterday, the United States warned that Russia had amassed enough troops around Ukraine to launch an offensive.

It remains unclear whether Russian President Vladimir Putin has issued an order to attack, White House National Security Adviser Jake Sullivan said. At the same time, he assured that the invasion could begin "at any moment."

A possible Russian military invasion of Ukraine could begin with an airstrike, Sullivan admitted. He, therefore, called on Americans still in the country to leave in the next 24-48 hours, as an airstrike would make it difficult for them to leave.

Sullivan did not provide concrete evidence to support his claims, Reuters notes.

/BTA

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