SWIFT Awaiting Determination From US, Others About Excluding Russian Banks
SWIFT, the global financial messaging system for banks, said March 1 it’s still waiting to hear from the U.S., the EU and other countries about which Russian banks to exclude from its services. A White House official said this week…
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the U.S. and allies were compiling a list of banks, which will likely include any Russian financial institutions subject to multilateral sanctions (see 2202280043). “Diplomatic decisions have brought SWIFT into efforts to bring this crisis to an end, and we will always comply with applicable sanctions laws,” SWIFT said in a statement. “We are engaging with these authorities to understand which entities will be subject to these new measures and will disconnect them once we receive legal instruction to do so.”