Boris Johnson, UK prime minister, is pushing "very hard" for Russia to be ejected from the Swift international payments system, a move that would deliver a heavy blow to the country's banks and its ability to trade beyond its borders.
However, Olaf Scholz, German chancellor, warned Johnson on Thursday that his country would not support such a dramatic move and neither would the EU, according to officials close to sanctions negotiations. A German official declined to comment, saying only that "all options are still on the table".
Johnson has faced criticism in the UK for deploying what critics described as "peashooter" sanctions in response to the first stage of Russian aggression in Ukraine; he is now trying to push western colleagues to deploy very tough reprisals.
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Johnson was expected to push for international support for Russia to be cut out of the Swift system in a call with G7 leaders later on Thursday.
The US has so far suggested that it was too early to consider the move, while saying that no option was off the table.