London Daily

Focus on the big picture.
Sunday, Jul 05, 2026

Brussels Wants SWIFT Shut-Off, Halt to Russian Energy Use 'If Ukraine Aggression Continues'

Brussels Wants SWIFT Shut-Off, Halt to Russian Energy Use 'If Ukraine Aggression Continues'

Tensions in war-torn eastern Ukraine between Kiev and the breakaway Donbass republics escalated this spring after the Ukrainian government mobilised its troops, prompting Donbass leaders to express fears of a general offensive. Moscow, which serves as a guarantor of the Minsk peace agreements, has urged calm and warned Kiev against any escalations.

Over 50 European Parliament lawmakers have tabled a resolution proposing disconnecting Russia from the SWIFT payment system and halting the purchase of Russian oil and gas supplies if Moscow's alleged "aggression and continued destabilisation of Ukraine, hostile behaviour towards and outright attacks on EU member states and societies" escalates into military action.

In a draft resolution tabled on Wednesday "on Russia, the case of Alexei Navalny, the military build-up on Ukraine's border and Russian attacks in the Czech Republic," the group of mostly Eastern European lawmakers suggested that if the current tensions over Ukraine turn into an outright Russian invasion, imports of "oil and gas from Russia to the EU [must] be immediately stopped, while Russia should be excluded from the SWIFT payment system, and all assets in the EU of oligarchs close to the Russian authorities and their families in the EU need to be frozen and their visas cancelled."

The resolution does not clarify what might provoke Russia to "invade" Ukraine. Moscow has repeatedly urged the current government in Kiev to make good on its commitments under the Minsk peace accords.

The resolution goes on to blame Moscow for the deterioration of the security situation in eastern Ukraine, and criticises Russia for suspending "the right of innocent passage for warships and commercial vessels" through the Kerch Strait until 31 October.

Calling opposition vlogger Alexei Navalny "Russia's best known anti-corruption activist and opposition politician," the resolution demands his immediate release, and calls for an investigation into the alleged "poisoning" and "assassination attempt" against him. Navalny was imprisoned after returning to Russia in January over breaches of probation to his suspended sentence in a 2014 fraud case.

The resolution goes on to accuse Russia of a litany of crimes, including election meddling, "the use of disinformation, deep fakes, malicious cyberattacks, sabotage and chemical weapons," and the latest claims of Russian involvement in arms depot blasts in the Czech Republic, and urges the EU to "reduce its dependence on Russian energy," stop the completion of the Nord Stream 2 pipeline project and cancel multi-billion-dollar nuclear power plant construction projects with Rosatom.

Relations at Low Point and Could Get Worse


Also on Wednesday, European Union foreign policy chief Josep Borrell told reporters that relations between Moscow and Brussels were at a "low point" and could deteriorate further in the future. Borrell accused Russia of "pretending" to be a neutral mediator in the conflict in eastern Ukraine, and claimed Moscow was not interested in the realisation of the Minsk agreements.

"Up to now, Russia has shown no willingness to end the conflict on terms that would safeguard Ukraine's sovereignty, territorial integrity and independence. For Russia, the full implementation of the Minsk agreement is not a key condition. For us, it is," he alleged.

Under the terms of the Minsk accords, signed in early 2015 in the Belarusian capital after months of brutal fighting between Kiev forces and militias in the regions of Donetsk and Lugansk, the breakaways would return to Ukrainian jurisdiction in exchange for broad autonomy. The two sides made good on their promises to halt fighting and move heavy military equipment away from the line of contact, but the agreement's implementation has since been stalled, with Ukrainian lawmakers refusing to proceed with the legislation to grant the Donbass autonomy.

Earlier on Wednesday, in an interview with Sputnik, Russian Foreign Minister Sergei Lavrov accused Western nations of trying to convince Moscow to "soften" the Minsk accords and to change the sequence of the implementation of its provisions, and warned that doing so would lead to a massacre of its residents.

Newsletter

Related Articles

0:00
0:00
Close
Royal Society Exhibition Highlights Growing Focus on Public Trust in Science
Energy Costs and Supply Chain Risks Continue to Shape UK Business Strategy
Rapid Rise in Artificial Intelligence Adoption Reshapes UK Corporate Operations, ONS Says
UK Businesses Turn Defensive as Economic Outlook Weakens, Institute of Directors Data Shows
UK Government Faces Criticism Over Late Extension of Pub Hours for England Match
Inquest Continues Into Death of Noah Donohoe as Jury Deliberates Findings
Calls for Stronger Wildlife Attraction Safety Rules After Crocodile Enclosure Injury
City Fire Under Control After Major Blaze Sends Smoke Across Urban Area
Police Investigation Continues After Officer Killed During Road Closure Duties
Blackpool Hotel Fined £120,000 After Electric Shock Incident Involving Child
Whistleblowers Allege Delays in UK Special Educational Needs Support Services
Calls Grow for Improved Support for UK Armed Forces Personnel Facing Health Conditions
Rising UK Energy Price Cap Increase Prompts Wider Concerns Over Household Pressures
UK Businesses Remain Concerned Over Global Conflict Risks to Supply Chains, ONS Finds
Office for National Statistics Reports Rising Adoption of Artificial Intelligence Across UK Businesses
Institute of Directors Reports Deepening Pessimism in UK Business Confidence Index
England Prepare for World Cup Round of 16 Match Against Mexico in Mexico City
Royal Society Summer Science Exhibition Concludes in London After Week-Long Showcase of Research
Silverstone Hosts British Grand Prix as Lando Norris and Lewis Hamilton Lead Home Crowd Expectations
Cornwall Van Dwellers Face Homelessness Risk as Council Tightens Enforcement
Police Investigate Stabbing of Iranian Journalist in London
Rare Copy of US Declaration of Independence Discovered in UK Archive
Department for Education Data Shows Persistent Literacy Gap Among Disadvantaged White Pupils
London Casino Faces Legal Action Over Alleged Tip Distribution Practices
England Records Hottest June on Record as Heatwave Disrupts Services Nationwide
UK Foreign Office Ends Overseas Education Programme for Women and Girls After Shortfall
UK Lawmakers Call for Urgent Action to Preserve Historic Outdoor Lidos
Police Criticise Extended Pub Opening Hours for England World Cup Fixture in Mexico
UK Safety Authorities Warn Parents Over AI-Generated Child Abuse Imagery Risks
Reform UK-Led Council Struggles to Attract Sponsors for Union Flag Promotion Scheme
OpenAI UK Investment Uncertainty Grows After Reported Setback on Stargate Data Centre Site
British Medical Association Warns of Severe Financial Crisis and Possible Staff Cuts
UK Devolution Debate Intensifies as Celtic Nations Prepare Breakup Contingency Plans
Starmer Signals Labour Transition as Burnham Emerges as Potential Successor
UK Government Consults International Partners on Maritime Trade Security and Energy Market Stability
Rare Revolutionary-Era Documents Discovered by UK Archives and Undergoing Authentication
UK Consumer Confidence Remains Deep in Negative Territory as Household Spending Stays Cautious
Transport for London Warns of Severe Disruption as Major Events Converge in Central London
NHS and Social Care Sectors Face Ongoing Recruitment Shortages Amid Persistent Workforce Gaps
Rising Energy Costs Drive Price Pressures Across UK Retail and Service Sectors
Competition and Markets Authority Expands Review of Artificial Intelligence Impact on UK Media Markets
UK Parliamentary Committees Intensify Scrutiny of National Security and Industrial Policy Legislation
Bank of England Faces Persistent Inflation Pressure as Rate Cut Expectations Fade
UK Public Finances Under Pressure as Borrowing Exceeds Forecast and Debt Nears 95% of GDP
Major Police Deployment Across Central London as Mass Demonstrations and Pride Parade Converge
Large-Scale Police Dispersal Powers Activated in Liverpool Ahead of Anti-Immigration Protests and Counter-Demonstrations
Luxury bags take over the World Cup: style, status symbol, or just showing off?
National Productivity Institute Highlights Weak Business Investment Outside Southern England
UK High Court Orders Reassessment of Environmental Impact in Major Highway Project
UK Cyber Security Centre Warns of Rising Threat From State-Sponsored Digital Espionage
×