EU bans 7 Russian banks from int'l payment network SWIFT

Politics Economy

The European Union said Wednesday its members agreed to exclude seven Russian banks from a key international payment network known as SWIFT, as part of financial sanctions against Russia for its invasion of Ukraine. Following the EU decision, the Society for Worldwide Interbank Financial Telecommunication, the service provider headquartered in Belgium, is expected to formally determine the cutoff certain to disrupt Russian trade and money transfer. The banks subjected to the restriction are Russia's second-largest bank VTB Bank, Bank Otkritie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcomba...

Kyodo News

Kyodo News