World News | Nations Pledge to Remove 'selected' Russian Banks from SWIFT

World News | Nations Pledge to Remove 'selected' Russian Banks from SWIFT

Washington, Feb 27 (AP) The U.S., European Union, and United Kingdom agreed to block “selected” Russian banks from the SWIFT global financial messaging system and to impose “restrictive measures” on its central bank in retaliation for its invasion of Ukraine.

The measures were announced jointly as part of a new round of financial sanctions meant to impose a severe cost on Russia for the invasion.

Also Read | EU Says It Will “paralyze” the Assets of Russia’s Central Bank, “freezing” Its … – Latest Tweet by BNO News.

In Brussels, EU Commission President Ursula von der Leyen said cutting several commercial banks from SWIFT “will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.” She said more banks could be hit “as appropriate.”

Von der Leyen said the EU would “commit to taking measures to limit the sale of citizenship — so-called golden passports — that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems.” (AP)

Also Read | Russian President Vladimir Putin’s Invasion of Ukraine Not Going As per Plan Due to Kremlin’s ‘Overconfidence’.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)

Source link