London Daily

Focus on the big picture.
Wednesday, Jul 08, 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
Federal Financial Framework Shifts as Treasury Launches Universal Savings Program for Minors
French Court Allows Le Pen to Run for Presidency, but with an Electronic Tag: "I Will Appeal, and I Will Run"
$1.4 Trillion: The Lawsuit That Could Crush Meta
Europe's Growing Struggle with Extreme Heat and Air Conditioning
UK Daily Briefing: Legal Developments and Social Issues
Political Turmoil and Rising Costs
Anthropic Reengineers Agentic Architecture to Shift Autonomous Workplace Automation to the Cloud
Logic Flaw in Windows 11 Permission Architecture Silently Consumes Hundreds of Gigabytes of Local Storage
Apple Advances Late-Stage Operating Systems with Fourth Beta Deployments
Global Crisis Alert: Escalating Middle East Tensions and UK Political Upheaval
UK Parliament Pushes for Greater Domestic Control Over Critical Technologies
UK Parliament Warns Trade Fair and Exhibition Industry Is Losing Global Competitiveness
Police Launch Murder Investigation After Mother and Two Children Found Dead Near Bedford
British Chambers of Commerce Survey Shows Business Confidence Falls to Post-Pandemic Low
UK Parliament Report Warns Britain Risks Falling Behind in Artificial Intelligence Sovereignty
Office for Budget Responsibility Warns United Kingdom Faces Long-Term Fiscal Pressures
Nigel Farage Resigns as Member of Parliament Amid Financial Scrutiny and Triggers By-Election
Deep Purple Has Released Its Best Album in Decades
UK MPs Criticise Student Loan System as Potentially Mis-Sold to Millions of Borrowers
Policy Groups Propose Bank of England-Backed Solar Loan Scheme for Millions of Homes
UK Health Agency Issues Amber Heat Alerts Across Six Regions as Temperatures Rise
Royal Air Force F-35 Jets Conduct First High North Air Policing Missions From Aircraft Carrier
Major UK Companies Join Government Cybersecurity Pledge Amid Rising Digital Threats
UK Sanctions Russian Operatives Linked to Chemical Weapons Programmes and Poisoning Cases
UK Government Expands Free Breakfast Clubs and Limits School Uniform Costs
UK Water Companies Face Tougher Penalties Under New Environmental Enforcement Rules
UK Universities Warn Funding Cuts Could Damage Skills Pipeline and Economic Growth
NHS Expands Artificial Intelligence Tools to Help Reduce Patient Waiting Lists
NHS Ombudsman Criticises Failures in End-of-Life Communication and Patient Care
NHS Launches Nationwide Vaccination Drive After Rise in Measles Cases
UK Government Introduces New Limits on Foreign-Linked Political Donations
Thames Water Creditors Advance £10 Billion Rescue Plan to Prevent Potential Public Ownership
Andy Burnham Prepares Labour Leadership Platform as Party Faces Post-Starmer Transition
UK Met Office Issues Heatwave Alerts for London and Southern England
Keir Starmer Blocks Earlier World Cup Kick-Off Time for England Match Against Mexico
NHS Digital Transformation and Media Consolidation Highlight UK Policy Priorities
UK Government Pushes Digital Trade Rules to Cut Export Costs for Businesses
Bank of England Plans Leverage Rule Changes to Support Government Bond Market
UK Police Operation Targets Organised Immigration Crime Networks With Hundreds of Arrests
Yvette Cooper Calls for Global AI Rules to Prevent Security Risks
NHS Begins Major AI Expansion Through £10 Billion Digital Investment Programme
UK Government Tightens Rules on Political Donations to Limit Foreign Influence
Keir Starmer Defends UK Defence Spending Plan at NATO Summit in Turkey
Comcast’s Sky Agrees £1.6 Billion Deal to Acquire ITV Media and Entertainment Division
Senior NHS Doctors Vote in Favour of Renewed Strike Action Over Pay Dispute
Andy Burnham Set to Succeed Keir Starmer as Labour Leadership Nominations Open
Microsoft Lays Off 4,800 Employees and Xbox Suffers the Hardest Blow
Office for National Statistics Updates Historical Investment Data Review to Improve Accuracy
Department for Science, Innovation and Technology Highlights Economic Gains From Digital Inclusion
Debate Intensifies Over UK Defence Strategy and Domestic Security Priorities
×