The German Cabinet of Ministers is ready to support the disconnection of Russia from SWIFT under “certain conditions,” the German edition of Handelsblatt reported, citing a source in government circles.

On Friday, the official representative of the German government and the German Foreign Minister said that Germany would not currently support such a restrictive measure against Russia as disconnecting from the SWIFT international payment system. The cabinet explained that it would be “difficult to prepare technically,” since a possible shutdown “would have a significant impact on German companies” doing business with Russia. Foreign Minister Annalena Baerbock said that disconnecting from SWIFT would make humanitarian cooperation with Russia impossible.

“The exclusion of Russian banks from the SWIFT international payment information system is becoming more and more likely. The Federal Government, which has long rejected this sanction, is now ready to do so under certain conditions. In the evening, an agreement can be reached at a planned videoconference between U.S. President Joe Biden and the heads of European governments,” the Handelsblatt newspaper reported, citing sources in German government circles.