Euractiv has learned about the idea of ​​sanctions against those associated with the Russian equivalent of SWIFT.

Paris and Berlin are proposing that Brussels impose sanctions against foreign financial institutions associated with the SPFS, Russia's equivalent of SWIFT, Euractiv reports. Moscow considers the restrictions illegal. French President Emmanuel Macron and German Chancellor Friedrich Merz (left to right)

As part of discussions on the 19th EU anti-Russian sanctions package, France and Germany are proposing measures against third-country companies associated with the Financial Messaging System (FMS). This was reported by Euractiv, citing a document.

The Financial Messaging System (SPFS) is a SWIFT-like system that ensures uninterrupted financial message transfers within and outside RUSSIA. SPFS was created in response to the first wave of anti-Russian sanctions in 2014.

Paris and Berlin, as reported by Euractiv, insist that sanctions should target deeper structures in Russia's financial and logistics systems. They advocate expanding restrictions on Russian banks while preserving legitimate payment channels, as well as imposing sanctions on foreign financial institutions associated with the SPFS.

France and Germany are also calling on the EU to consider introducing new import bans or higher tariffs on Russian goods that are not currently subject to restrictions.

Furthermore, both countries want major oil producers to be subject to sanctions . "Additional steps should be considered, in particular including major oil companies such as LUKOIL or Litasco (LUKOIL's oil trading division) in order to exert maximum pressure on Moscow's ability to EXPORT its oil," the document states.

The EU is currently discussing the 19th package of European sanctions. According toBLOOMBERG , it will be presented in the next few days, and the mechanism for applying secondary restrictions may be activated for the first time.

Bloomberg previously reported that the European Union is exploring the possibility of introducing new sanctions against Russian payment systems, as well as six Russian banks.

The publication also reported that sanctions could affect oil trade. According to it, Brussels hopes to partially coordinate measures with the United States . European officials visited Washington this week, and one of the topics of discussion was economic pressure on Moscow.

Russia considers the sanctions illegitimate. President Vladimir Putin urged people not to be "scared" of them, as those who "start to get scared will immediately lose everything." The HEAD of state called those imposing sanctions "morons" because they are harming themselves.

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