Posted on Feb 27, 2022
Select Russian banks are being booted off the SWIFT bank messaging system
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https://www.npr.org/2022/02/26/ [login to see] /ukraine-russia-swift-sanctions
The U.S., Canada and European allies are moving to cut off certain Russian banks from the SWIFT bank messaging system as part of a dramatic new round of sanctions meant to punish Russia for the ongoing invasion of Ukraine.
The White House issued a statement saying, in part, "we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally."
SWIFT is a key mechanism in the global financial system that supports millions of secure messages daily to facilitate bank transactions worldwide.
The U.S., Canada and European allies are moving to cut off certain Russian banks from the SWIFT bank messaging system as part of a dramatic new round of sanctions meant to punish Russia for the ongoing invasion of Ukraine.
The White House issued a statement saying, in part, "we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally."
SWIFT is a key mechanism in the global financial system that supports millions of secure messages daily to facilitate bank transactions worldwide.
Select Russian banks are being booted off the SWIFT bank messaging system
Posted from npr.org
Banking
Finance
Russia
Ukraine
Posted 3 y ago
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Pretty soon Russia is going to be strapped for money, and will either give up what they are doing, or have nothing to pay their debts with shipmate PO1 William "Chip" Nagel
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