Ukraine: EU agrees to exclude key Russian banks from SWIFT
The European Union has today agreed to exclude key Russian banks from the SWIFT system, the world’s dominant financial messaging system.
This measure will stop these banks from conducting their financial transactions worldwide in a fast and efficient manner. Today’s decision has been closely coordinated with the EU’s international partners, such as the United States and the United Kingdom.
President von der Leyen said, “At the speed of light, the European Union has adopted three waves of heavy sanctions against Russia’s financial system, its high-tech industries and its corrupt elite. This is the largest sanctions package in our Union’s history. Today’s decision to disconnect key Russian banks from the SWIFT network will send yet another very clear signal to Putin and the Kremlin.”
