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Guardian: Russia could be excluded from the Swift global bank payments system [View all]
02:54
A report from the Reuters news agency suggests it is looking more likely that Russia could be excluded from the Swift global bank payments system – a step that some countries had been reluctant to take:
Germany and Italy softened their opposition against kicking Russia out of the world’s main international payments network, US and European officials said. Doing so would hit Russian trade and make it harder for Russian companies to do business.
Italy, which had been reluctant to take that step, on Friday said it would not veto proposals to ban Russia and pledged to continue working in unison with its EU partners. Germany, which has the EU’s biggest trade flows with Russia, is also open to banning Russia from Swift, but must calculate the consequences for its economy, said its finance minister, Christian Lindner.
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Germany and Italy softened their opposition against kicking Russia out of the world’s main international payments network, US and European officials said. Doing so would hit Russian trade and make it harder for Russian companies to do business.
Italy, which had been reluctant to take that step, on Friday said it would not veto proposals to ban Russia and pledged to continue working in unison with its EU partners. Germany, which has the EU’s biggest trade flows with Russia, is also open to banning Russia from Swift, but must calculate the consequences for its economy, said its finance minister, Christian Lindner.
...
https://www.theguardian.com/world/live/2022/feb/25/russia-ukraine-invasion-latest-news-live-updates-russian-war-vladimir-putin-explosions-bombing-invades-kyiv
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