EU Parliament President Roberta Matsola has called for further sanctions to be placed on Russia, including its exclusion from the SWIFT system.
Countries have imposed a number of restrictions on Russia, however have not yet excluded Russia from SWIFT, the dominant system for global financial transactions. Ukraine's president called for Russia to be cast out of SWIFT, but the U.S. had expressed concern about the potential damage to European economies. The option has not been taken off the table.
"Europe is freedom & democracy. This is our strength. We must stand for Ukraine - for our values - even if this comes at a cost. Our resolve will not be watered down by Kremlin aggression that looks back at spheres of influence instead of forward to circles of cooperation," Metsola said in a series of tweets.
"It is right for the EU to adopt massive, unprecedented, severe sanctions on Russia. We need more and they must be further-reaching including the exclusion of Russia from the SWIFT system and tough individual sanctions with no-one off the table. If we are tempted to accommodate, to take a step back, - we will soon be facing another ultimatum. And what then? We are #WithUkraine."