Following the Russian attack on Ukraine, the USA, the G7, and the EU have agreed on far-reaching sanctions against Russia. We take a closer look at the individual sanction areas. Till Hoppe analyzes the planned punitive measures against the Russian financial sector. The US, UK, and EU are significantly increasing the pressure on Russia’s banks. But the West has so far shied away from excluding the Russian financial industry from SWIFT – probably also at Germany’s request.