US Treasury Secretary Scott Besant does not rule out Russian banks from rejoining the international financial transfer system SWIFT as negotiations to end the war in Ukraine continue, writes "Politico".
"There will be a long discussion about many things in terms of the right way to return Russia to the international system," Besant told Fox News host Martha McCallum. "But I think it's premature to discuss the terms of the deal before we have a deal."
The Biden administration helped push to remove some of Russia's largest banks from SWIFT, an international system that allows financial institutions around the world to communicate transaction information, shortly after the country invaded Ukraine in early 2022.
Russia is demanding that one of its leading banks, "Rosselkhozbank", be reconnected to the system in exchange for implementing a ceasefire in the Black Sea.
"I think everything is on the table," Bessent told McCallum. "And as you mentioned, part of the national security efforts that the Treasury Department is making is through financial transactions, sanctioning individuals, banks or countries."
But the European Union, whose central banks are among the institutions that oversee the SWIFT system, would effectively have to approve the restoration of access for Russian banks.
Anitta Hipper, a spokeswoman for the European Commission for Foreign Affairs, told "Politico" that "the cessation of Russia's unprovoked and unjustified aggression in Ukraine and the unconditional withdrawal of all Russian military forces from all Ukrainian territory would be one of the main prerequisites for amending or lifting the sanctions."
Bessent also told McCallum that he hopes the White House and Kiev can sign the long-awaited agreement on the two countries' minerals next week. Ukrainian negotiators are currently reviewing the completed document, he noted.
"I am sure we will move forward and sign this quickly," he said.