Western sanctions must be extended to cover all Russian banks by cutting off Russian energy-related institutions, the UK foreign secretary said in Vilnius after a meeting with the foreign ministers of the three Baltic states.
Liz Truss said the UK was “trying to ensure that the Russian economy is crippled so that it can no longer fund its war machine”, adding that she hoped the Russian people would draw their own conclusions if that happened.
She praised Russian demonstrators protesting what she described as Putin’s war of choice, adding: “I don’t believe that Putin speaks for the Russian people.”
A group of energy-dependent EU countries has successfully argued that some of Russia’s major banks, including Gazprombank and Sberbank, should not be kicked out Swift international payment system.
If Gazprombank were to be excluded from Swift’s gas and oil imports from Russia to Europe will become increasingly difficult, causing prices to rise even further.
But Truss said: “We need to make sure that no Russian bank has access to Swift.” She added that the West has two clear goals: “Vladimir Putin must fail in this terrible enterprise and his ambitions will not go any further.”
Some Baltic countries want a no fly zonehowever, the US and the UK oppose this on the grounds that it could lead to direct conflict with Russia.
British soldiers lead a joint expeditionary force in Estonia This has been reinforced by the doubling of UK forces in recent weeks as the Russian threat to NATO countries has grown. Truss added that UK intelligence is working more closely with Lithuania to look for evidence of a Russian military buildup in the Suwalki Rift, a narrow strip of land between Belarus and the Russian exclave of Kaliningrad.
She said Western weapons had been used to stop Putin’s tanks, but more needed to be done. “This is a fight not only for the freedom and self-determination of Ukraine, but also for all our freedom and security. By continuing to respond strongly, together we will ensure that Putin loses.
She confirmed she will attend Friday’s meeting of EU foreign ministers in person, despite Britain leaving the bloc where she will raise the issue of further sanctions against Belarus. She will participate together with Ukrainian Foreign Minister Dmytro Kuleb and US Secretary of State Antony Blinken.
She will also attend a NATO meeting on Friday, where foreign ministers will have to discuss the change in defense strategy in more detail.
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