🔴Western Allies Agree to Disconnect Some Russian Banks From SWIFT

The United States and its allies on Saturday moved to block certain Russian banks' access to the SWIFT international payment system in further punishment of Moscow as it continues its military assault against Ukraine.

The measures, which will include restrictions on the Russian central bank's international reserves, will be implemented in the coming days, the nations said in a joint statement that also vowed further action to come
The U.S. and European powers committed to remove some Russian banks from the SWIFT messaging system in a bid to further isolate Russia from global financial channels.

ALSO READ Starlink Satellite Service is now available and running in Ukraine

They also pledged to impose “restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions,” according to a European Union statement on Saturday.

The European Commission, France, Germany, Italy, the U.K., Canada and the U.S. agreed on the package of measures in response to President Vladimir Putin’s invasion of Ukraine.

“We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin,” according to the statement.