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Russia war in Ukraine: Western states exclude Russian banks from Swift

2022-02-26T22:23:20.196Z


The exclusion from the international payment system Swift is considered one of the harshest sanctions. The Western allies have now agreed to go this route.


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This protester's wish will come true

Photo: HANS PUNZ / AFP

Germany and Western allies have decided to exclude Russian financial institutions from the Swift banking communications network.

This was announced by government spokesman Steffen Hebestreit in Berlin.

The decision was made by the USA, France, Canada, Italy, Great Britain, the EU Commission and Germany.

Almost simultaneously, EU Commission President Ursula von der Leyen held a press conference in which she sharply condemned the Russian invasion of Ukraine.

She will propose to the heads of state and government that "a number of Russian banks be excluded from Swift".

This step will make it considerably more difficult for banks to participate in global business transactions.

"Putin has chosen a course aimed at destroying Ukraine," von der Leyen said.

“But in doing so he is also destroying the future of his own country.”

More soon at SPIEGEL.de

hba/Reuters/AFP

Source: spiegel

All news articles on 2022-02-26

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