Decision on SWIFT exclusion serves Germa • Table.Briefings

The EU is severely restricting the Russian Central Bank’s ability to protect the financial system from the consequences of the sanctions. Several banks will also be cut off from the SWIFT international payment processing system. The measures are likely to shake the Russian financial system.

It was still controversial on Friday, announced on Saturday, and decided on Sunday: The EU is excluding key Russian banks from the SWIFT international banking data system, drastically limiting the Russian central bank’s ability to support the economy. „We are taking away the central bank’s ability to use its assets internationally,“ EU Commission President Ursula von der Leyen said in Brussels.

Decision on SWIFT exclusion serves German and US interests

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