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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

EU Bars 7 Russian Banks from SWIFT, but Spares Those in Energy

SWIFT European Union Russia Ukraine Bank Rossiya Britain Promsvyazbank United States VEB VTB
SWIFT logo is seen in this illustration taken, Bosnia and Herzegovina, February 25, 2022. (Reuters)

The European Union said on Wednesday it was excluding seven Russian banks from the SWIFT messaging system, but stopped short of including those handling energy payments, in the latest sanctions imposed on Russia over its invasion of Ukraine.

Russia's second-largest bank VTB, Bank Otrkitie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcombank and VEB will each be given 10 days to wind-down their SWIFT operations, the EU said in its official journal.

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