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Economic news / Економічні новини

News of economy, energy, trade, finance / Новини економіки, енергетики, торгівлі, фінансів

The European Union will disconnect a number of Russian banks from SWIFT


Чер 14, 2022

As part of the next package of sanctions against Russia, the European Union will disconnect a number of banks from the SWIFT system. It is reported by RIA Novosti.

So, from June 14, such Russian banks as Sberbank, Rosselkhozbank and Moscow Credit Bank (MCB) will be disconnected from SWIFT. The credit institutions said that disconnection from the system would not cause negative consequences for their work, since they had prepared in advance for this development.

In particular, Sberbank said that they are working as usual, so disconnecting from SWIFT will not change the situation with international settlements. The MKB confirmed the regular course of operations within Russia and warned that the timing of payments abroad could increase. Rosselkhozbank, in turn, added that the Russian banking system has all the conditions for autonomous operation without interruption.

On March 2, the European Union disconnected seven Russian banks from the SWIFT international payment system – VTB, Rossiya and Otkritie banks, Novikombank, Promsvyazbank, Sovcombank and VEB.RF. The organization also banned the sale, supply, transfer or export of euro banknotes to the country.