The U.S., European Union, and United Kingdom have agreed to block “selected” Russian banks from the SWIFT global financial messaging system.
, a service that facilitates global transactions among thousands of financial institutions, the White House said in a joint announcement with global partners.
"We commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally," the statement, attributed to the leaders of the European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States, said.
The measures were announced jointly as part of a new round of financial sanctions meant to impose a severe cost on Russia for the invasion. When announcing new U.S. sanctions against Russia on Thursday, President Joe Biden said that while doing so is"always an option," it is not the"position that the rest of Europe wishes to take.”
A European diplomat stated that one reason for the administration's previous reluctance to push publicly for targeting Russia's access to SWIFT was largely centered on concerns that it would expose and call attention to divisions among the allies.
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