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Russia must get message of "major economic cost" - Britain's Lord Ahmad to Reuters

Economy Feb 28, 2022 11:00
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© Reuters. Protestors hold signs during an anti-war protest outside the Russian Embassy, after Russia launched a massive military operation against Ukraine, in London, Britain, February 26, 2022. REUTERS/Henry Nicholls

GENEVA (Reuters) - Russia is increasingly isolated but sanctions must be tightened further, particularly through the SWIFT international payments system to inflict pain on Russian banks for its invasion, British minister of state Lord Ahmad told Reuters on Monday.

"They are increasingly isolated economically, politically and diplomatically," he said in an interview in Geneva. "We believe that further measures should be taken through SWIFT. Of course this needs international cooperation and agreement, and we are working on that."

"We will continue to work with our international partners to make sure that again a very clear message is given to Russia that there is a major cost economically for Russian institutions, Russian banks, that this invasion is going to be costly to them," Lord Ahmad added.

Britain was working with its allies in the U.N. Human Rights Council and through the International Criminal Court in the Hague to 'ensure accountability' for Russia's actions in Ukraine, he said.

Russia must get message of "major economic cost" - Britain's Lord Ahmad to Reuters
 

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