It would be a serious blow to Russia’s financial system: the country’s largest bank, Sberbank, is to be excluded from the Swift international banking system. That said EU Commission President Ursula von der Leyen on Wednesday.
Sberbank, Russia’s largest bank, is said to stop participating in the Swift banking system. This was announced by EU Commission President Ursula von der Leyen on Wednesday in Brussels. “By doing so, we hit banks relevant to the Russian financial system and limit Putin’s ability to further destroy,” she said. “This will cement the complete isolation of the Russian financial sector from the global system.”
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