EU cuts seven Russian banks from SWIFT

As of March 12, it shall be prohibited to provide to them specialized financial messaging services, which are used to exchange financial data

The European Union has disconnected from the SWIFT interbank payment system seven Russian banks, including VTB, Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank and VEB.RF. Relevant regulations were posted in the EU Official Journal on Wednesday.

"It shall be prohibited as of 12 March 2022 to provide specialized financial messaging services, which are used to exchange financial data," to Russian banks listed in the annex to the decision.

Qazet.az informs that Brussels is ready to add new banks to this list if necessary, the European Commission said.