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Western allies including Britain agree to start Russian banks OUT of Swift system on Ukraine invasion, blow to Putin

WORLD leaders have agreed to cut selected Russian banks from the Swift banking system.

Britain, the EU and the US tonight condemned Putin’s “war of choice” and attacks on Ukraine.

Western allies have agreed to push Russian banks out of the Swift system

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Western allies have agreed to push Russian banks out of the Swift systemCredit: Getty

A statement released by the White House read: “We stand with the government of Ukraine and the people of Ukraine in their heroic efforts against Russian aggression.

“We will hold Russia accountable and jointly ensure that this war is a strategic defeat for Putin.

“As Russian forces launch attacks on Kyiv and other Ukrainian cities, we are determined to continue to impose costs on Russia that will further isolate Russia from the international financial system and financial markets.” our economy.”

When listing the measures to be taken in the coming days, the most important thing is to make sure the selected Russian banks are removed from the Swift messaging system.

“This will ensure that these banks are disconnected from the international financial system and compromise their ability to operate globally.”

Swift processes trillions of dollars worth of transactions and is used around the world by more than 11,000 banks and financial institutions.

The leaders also pledged to adopt restrictive measures to prevent the Central Bank of Russia from deploying international reserves and to target the people and entities that facilitated the war in Ukraine.

Specifically, we are committed to taking measures to limit the sale of citizenship – the so-called golden passport – that allows wealthy Russians with ties to the Russian government to become citizens of our country and have access to our financial system.

“Fourth, we are committed to launching within the next week a transatlantic task force that will ensure the effective enforcement of our financial sanctions by identifying and freezing our assets. sanctioned individuals and companies exist in our jurisdiction.

“As part of this effort, we are committed to imposing sanctions and other financial and enforcement measures against Russian officials and other elites close to the Russian government, as well as their families and those who help them identify and freeze assets they hold in jurisdictions.

“We will also engage with other governments and work to detect and disrupt the illicit profit movement, while denying these individuals the ability to conceal their assets in jurisdictions.” management worldwide.

“Ultimately, we will step up or coordinate against disinformation and other forms of mixed warfare.”

https://www.the-sun.com/news/4780659/western-allies-boot-russian-banks-swift-system/ Western allies including Britain agree to start Russian banks OUT of Swift system on Ukraine invasion, blow to Putin

DevanCole

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