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Nations Pledge To Remove 'Selected' Russian Banks From SWIFT

February 26, 2022 / 4:45 PM CST / CBS Texas

WASHINGTON (CBSDFW.COM/AP) — The U.S., European Union, and United Kingdom on Saturday agreed to block "selected" Russian banks from the SWIFT global financial messaging system and to impose "restrictive measures" on its central bank in retaliation for its invasion of Ukraine.

KYIV, UKRAINE - FEBRUARY 26: A view of rubble by the apartment block in 6A Lobanovsky Avenue which was hit with a missile on February 26, 2022 in Kyiv, Ukraine. A residential building was hit as missile strikes were reported around Kyiv on the second night of Russia's invasion of Ukraine, which has killed scores and prompted widespread condemnation from US and European leaders. (Photo by Anastasia Vlasova/Getty Images)

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.

In Brussels, EU Commission President Ursula von der Leyen said cutting several commercial banks from SWIFT "will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally." She said more banks could be hit "as appropriate."

Von der Leyen said the EU would "commit to taking measures to limit the sale of citizenship — so-called golden passports — that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems."

Vladimir Putin