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A European official: 7 Russian banks are denied access to the “SWIFT” banking system.

Today, Wednesday, a European official announced that 7 Russian banks have been denied access to the “SWIFT” banking system.

The exclusion excludes Russian banks from the SWIFT system and the European Union for gas and oil payments.

The European Union, the United States, France, Germany, Italy, Canada and Great Britain agreed to ensure that selected Russian banks would be isolated from the SWIFT system to the detriment of their ability to operate globally. .

On Tuesday, Swift said she was waiting to see which banks authorities want to disconnect from its global financial correspondence system as sanctions begin to be implemented. in response to the Russian invasion of Ukraine.

“We are communicating with these authorities to understand which entities will be subject to these new procedures and we will disconnect them (from our system) as soon as we receive legal instructions. in this sense “.

Banks use the established SWIFT system in Belgium to send millions of instructions a day to support billions of dollars in payments annually in international trade.

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