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FM Baerbock: 'Need Targeted Sanctions, Not Ones That Just Sound Big'

GERMANY

German Foreign Minister Annalena Baerbock delivering doorstep comments at EU foreign affairs meeting says that "cutting off Russia from SWIFT would mean that ordinary people can no longer transfer money to relatives in Russia".

  • Says that "we need to pave the way for targeted sanctions and not just sanctions that sound big".
  • Says that the sanctions package will 'ruin Russia'.
  • Earlier, Austrian Chancellor Karl Nehammer stated earlier that 'we are prepared to exclude Russia from SWIFT if there is unity in the EU'. Crucial comment being 'if there is unity in EU', as at present this threshold has not been reached.
  • Prospect of Russia being cut off from SWIFT seems to be receding. Without German support there will be no EU support, and without EU support US and UK would be unlikely to procede with seeking Russian cut off.
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