Bert Sundström: "Significantly worse for Russia than all previous sanctions packages combined"

The European Commission wants to exclude more banks from the international payment system Swift, including Russia's largest bank.

59 new people also end up on the sanctions list.

- If this becomes a reality, within a few months this will be significantly worse for Russia than all the previous sanctions packages combined, I would say.

If Sberbank is shut down from the international payment system, it will be a big problem for Russia with payments and perhaps also for European and other countries that want to trade with Russia.

The Commission also wants to stop imports of Russian oil and petrol later this year.

- It will also create big holes in the Russian state budget.

It's something we can see in six months or so.