Secure-messaging network facilitates rapid cross-border payments, making it a crucial trade mechanism
The statement from allies said countries “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.”
“Canada strongly supports removing Russian banks from SWIFT and targeting and restricting Putin’s war chest – the reserves of the Russian Central Bank. President Putin’s invasion cannot be allowed to succeed. We stand with the brave people of Ukraine.”called for Russia to be cut off Ukrainian President Volodymyr Zelensky welcomed the push to disconnect Russia from SWIFT, the global banking system in a video message on Feb. 26.The European Union, led by Germany, had been the most opposed. The EU trades significantly with Moscow, including importing Russian oil, gas and wheat, and making payments through SWIFT.
This coalition of countries also said they will take action to stop wealthy Russians linked to Russia’s government from seeking safe haven abroad.
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