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EU to ban Russian banks from Swift system


Lyssna: EU and West to ban Russian banks from Swift system

  • The EU, the US, Britain and Canada have agreed to exclude a selected number of Russian banks from the Swift global financial messaging system, which is used to move money around more than 11,000 banks and other financial institutions worldwide.

  • In far-reaching sanctions announced Saturday night, the assets of Russia’s central bank will also be frozen, limiting Russia’s ability to access its reserves in the West.

  • EU Commission President Ursula von der Leyen said the decision to paralyse the assets of Russia’s central bank would stop the Kremlin from “using its war chest”.



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