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BBC: West to cut some Russian banks off from Swift

February 26, 2022 by Choice Aviation Services0Air Cargo

BBC reports:

The EU, US and their allies have agreed to cut off a number of Russian banks from the main international payment system, Swift.

“This is intended to cut off these institutions from international financial flows, which will massively restrict their global operations,” a German government spokesman said.

Russia is heavily reliant on the Swift system for its oil and gas exports.

But the move could also harm Western businesses doing business with …

The post BBC: West to cut some Russian banks off from Swift appeared first on The Loadstar.

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