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Western allies will adopt a new round of financial sanctions against Russia on Sunday including barring a number of Russian banks from the Swift interbank system.
Germany changed its position about imposing restrictions on Russia's access to Swift, allowing the breakthrough for agreement, on the same day it lifted a long-standing block on sending weapons to war zones.
The Swift move will affect Russian trade and make it harder for Russian companies to do business and will be adopted during a special meeting of EU foreign ministers on Sunday, chief EU diplomat Josep Borrell said on Twitter.
A US official said: “There's a process under way to finalise the list of banks that will be cut off from the Swift system. There are several [Russian] banks that Europe and the US have sanctioned and those will be the first ones considered.”
Japan will also join the effort. "Western nations have requested Japan participate. Japan will join this initiative," Prime Minister Fumio Kishida said on Sunday.
Ukrainian President Volodymyr Zelenskyy welcomed moves to disconnect Russia from “global financial civilisation” in a video message.
The US, Britain, European Commission and Canada moved on Saturday to block Russia's access to the Swift international payment system as part of another round of sanctions against Moscow.
The measures, which will include restrictions on the Russian central bank's international reserves, will be implemented in the coming days, the nations said in a joint statement.
"We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin," the statement said.
"As Russian forces unleash their assault on Kiev and other Ukrainian cities, we are resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our economies," it added.
Announcing the deal, European Commission President Ursula von der Leyen said the measures would help “paralyse the assets of Russia’s central bank” so that its transactions would be frozen.
She said several commercial banks will be removed from Swift to “ensure that these banks are disconnected from the international financial system and harm their ability to operate globally”.
“Cutting banks off will stop them from conducting most of their financial transactions worldwide and effectively block Russian exports and imports,” she said.
They also announced a commitment to end so-called 'golden passports' where wealthy Russians connected to the Russian government can become citizens of our countries.
“Our diplomats fought around the clock to inspire all European countries to agree on a strong and fair decision to disconnect Russia from the international interbanking network. We also have this victory,” Mr Zelenskyy said.
“This is billions and billions of losses for Russia — a tangible price for this vile invasion of our country … Ukraine won the attention of the entire civilised world. And the practical result? Here it is — Swift … Disconnecting from global financial civilisation.”
UK Prime Minister Boris Johnson welcomed the impetus to exclude Russia from Swift.
Germany, which has the EU's biggest trade flows with Russia, had been reluctant to get on board with cutting off Russia from the world's main international payments network, saying it must first weigh the economic consequences of such a move.
Swift is a secure system that enables rapid cross-border payments and is the principal mechanism for financing international trade.
Berlin's change of heart came as Russian forces pounded Kiev and other cities with artillery and cruise missiles on day three of a campaign that has sent hundreds of thousands of Ukrainians fleeing west towards the EU, clogging major roads and railway lines.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
WHEN TO GO:
September to November or March to May; this is when visitors are most likely to see what they’ve come for.
WHERE TO STAY:
Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.
HOW TO GET THERE:
Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.
More coverage from the Future Forum
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
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Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
