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The Latest Breaking News from SWIFT

Wall Street counsels Washington against kicking Russia off SWIFT

Some of Wall Street’s largest banks told lawmakers and the Biden administration that kicking Russia off the SWIFT financial-messaging system would have far-reaching fallout that could hurt the global economy and undermine the purpose of the penalties, people familiar with the matter said.

Tribune News Service

US-EU sanctions will pummel the Russian economy – two experts explain why they are likely to stick and sting

The Biden administration, in extraordinary and rapid cooperation with allies over a period of three days, has doubled down on its vow to impose “severe sanctions” against Russia for its military aggression against Ukraine.

The Conversation

Explainer-How the U.S. could tighten sanctions on Russia

The United States on Thursday imposed sanctions on Russia in retaliation for its invasion of Ukraine, targeting major banks and members of the elite coupled with new export control measures.

Reuters

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Latest Russia-Ukraine updates: Battles rage for Ukraine’s cities

Ukraine news from February 26: UN says internal displacement also growing as Ukraine forces battle all-round assault.

Al Jazeera

EU could cut Russia off from SWIFT system, senior official says

The European Union could exclude Russia from the SWIFT global interbank payments system in a fresh round of sanctions, European Parliament President Roberta Metsola said on Friday.

Reuters

Bank sanctions are a sharper sword than cutting Russia off SWIFT, German minister says

The package of banking sanctions that the European Union is imposing will hit Russian President Vladimir Putin's government harder than excluding Russia from the SWIFT payments system, German Foreign Minister Annalena Baerbock said.

Reuters

Ukrainian politician breaks down live on air begging the US to ‘please save our people’

Halyna Yanchenko broke down in tears during an emotional interview with CBS as she called on the global community to ‘be courageous’ against Russia

The Independent UK

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Italy open to banning Russia from SWIFT system -foreign minister

Italy would not veto proposals to ban Russia from the SWIFT global interbank payment system, Italian Foreign Minister Luigi Di Maio said on Friday.

Reuters

Boris Johnson sanctions Vladimir Putin as Russian forces target Ukraine President in Kyiv

The UK and the EU issued personal sanctions against the Russian President as western intelligence said Ukraine's 'strong resistance' to invasion left them targeting the Ukraine president to force a swift surrender.

Daily Record

EU to freeze Putin, foreign minister assets over Ukraine attack

The EU foreign ministers approve sanctions described as the harshest ever imposed by the bloc.

Al Jazeera

UK calls on NATO leaders to use SWIFT payments system to hurt Russia

British Prime Minister Boris Johnson called on leaders of NATO member countries on Friday to use the SWIFT international payments system to damage Russian President Vladimir Putin and members of his government.

Reuters

List of sanctions against Russia after it invaded Ukraine

US, EU, and UK are among those imposing sanctions on Russia after its attack on Ukraine.

Al Jazeera

Why Boris Johnson wants Russia ejected from SWIFT and what it could mean for the world

‘It would have a massive economic impact on Russia but it also would have a massive international impact. It’s not something you could do a snap decision on’

Evening Standard

Not so SWIFT: EU energy concerns spark Russia sanctions rift

Berlin (AFP) - The West has agreed an onslaught of sanctions over Russia's invasion of Ukraine, but resistance from key EU nations fearful of severing their power sources has resulted in them holding off on deploying the "financial nuclear weapon" of banishing Moscow from the SWIFT banking transfer system.

AFP

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Al Jazeera

What is SWIFT and why were some Russian banks excluded from it?

Disconnecting Russia from the SWIFT payment system could cripple its ability to trade with most of the world.

Daily Mirror

Russia 'pretend' sanctions spark claims of 'disgrace' as Ukraine demands tougher action

Former EU chief Donald Tusk said countries like Germany had 'disgraced themselves' after Britain, the US and EU all announced sanctions on Russia - but failed to ban Moscow from using the SWIFT bank system

Asharq Al-Awsat

Biden and Europe Waiting on One Key Sanction against Russia

US and European officials are holding one key financial sanction against Russia in reserve, choosing not to boot Russia off SWIFT, the dominant system for global financial transactions. The Russian invasion of Ukraine caused a barrage of new financial sanctions Thursday. The sanctions are meant to isolate, punish and impoverish…

The Guardian - UK

UK politics live: Boris Johnson imposes sanctions against Putin and Lavrov – as it happened

Latest updates: PM also urges leaders to take ‘immediate action’ to ban Russia from Swift payment system; sending Nato forces to Ukraine would risk leading to ‘existential’ threat, says minister

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ABC News

Why is booting Russia off SWIFT the one key sanction the US and Europe are still holding back on?

US and European officials are holding one key financial sanction against Russia in reserve, choosing not to boot Russia off SWIFT, the dominant system for global financial transactions.

Asharq Al-Awsat

EU Leaders Agree 'Maximum Impact' Sanctions on Russia

EU leaders wrapped up an emergency summit early Friday with agreement to punish Moscow for its invasion of Ukraine by imposing "severe" sanctions targeting its financial, energy and transport sectors.

The Independent UK

Biden and Europe waiting on one key sanction against Russia

U.S. and European officials are holding one key financial sanction against Russia in reserve

Reuters

EU imposes sanctions on Putin as Ukraine pleads for tougher action

EU states agreed to freeze any European assets of Russian President Vladimir Putin and his foreign minister on Friday, as Ukraine's leader pleaded for faster and more forceful sanctions to punish Russia's invasion of his country.

Al Jazeera

Latest Russia-Ukraine updates: US to impose sanctions on Putin

Ukraine news from February 25: Biden plans move to freeze assets of Putin and Russian foreign minister.

Axios

Biden unveils new Russia sanctions: Putin must "bear the consequences"

Putin "will be a pariah on the international stage."

Roll Call

Biden hits Russia with new export controls and financial sanctions - Roll Call

President Biden slapped economic penalties on Russia, including ones to deprive Moscow of key military technologies after it invaded Ukraine.

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