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Germany and Western allies agree cutting Russia out of SWIFT -Breaking


© Reuters. FILEPHOTO: This illustration shows the Swift logo taken in Bosnia and Herzegovina on February 25, 2022. REUTERS/Dado Ruvic/Illustration

BERLIN, (Reuters) – Germany and its Western allies reached an agreement to exclude Russia from SWIFT’s global payment system. The statement was made by a spokesperson for Germany’s government on Saturday. It is part of a third set of sanctions that aims at stopping Russia’s invasion of Ukraine.

Along with the United States of America, France, Canada and Great Britain, the European Commission has agreed to sanctions that limit Russia’s central banks ability to support the ruble.

According to the spokesperson, they will also eliminate the “golden passports”, which are granted to wealthy Russians and their family members. They will then target Russian individuals and institutions that support the war on Ukraine.

He said that the countries had expressed their readiness to continue taking measures should Russia’s attack against Ukraine, and so on the European peace agreement.

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