VVD, D66 want to block Russia from SWIFT payment system; Rutte opposed for now

Coalition parties VVD and D66 believe Russia should be cut off from the international payment system SWIFT. D66 party chairman Jan Paternotte and VVD parliamentarian Ruben Brekelmans said so on program Op1.

The EU decided on Thursday to impose more sanctions on Russia. It did not respond to Ukrainian President Vlodomyryr Zelensky's plea to cut off Russia from international payment transactions and punish President Vladimir Putin personally. According to insiders, EU countries like Italy and Germany were against denying Russia access to SWIFT. According to Prime Minister Mark Rutte, the negative consequences of such a step must first be investigated. Putin is escaping personal sanctions to not hinder the possible resumptions of talks on a diplomatic solution.

Earlier on Thursday, Minister Wopke Hoekstra of Foreign Affairs also said that as far as the Netherlands is concerned, all options are on the table, including blocking Russia from SWIFT. Without SWIFT, it is much more challenging to transact internationally.

Paternotte is pleased that the Netherlands keeps cutting Russia off from SWIFT on the table. "It is a very severe sanction but very effective." He wonders how much further President Putin has to go before the EU considers the toughest sanctions against Russia as justified.

Breklemans also favors the sanction but fears it will not come to that. If Russia no longer has access to SWIFT, other countries will no longer be able to pay for Russian gas. "We are prepared to take that pain," said Brekelmans about the Netherlands. But he said that other countries don't want to go that far. The VVD parliamentarian, therefore, considers it "top priority" that Europe reduces its dependence on Russian gas. In 2019, over 40 percent of all gas used in Europe came from Russia.

Earlier this week, Climate and Energy Minister Rob Jetten said that Europe currently imports 20 to 25 percent of its gas from Russia.