EU to exclude Russia's biggest bank from SWIFT

Agence France-Presse

Posted at May 31 2022 07:56 AM

BRUSSELS, Belgium - European Union leaders agreed Monday that their sixth sanctions package targeting Moscow over its invasion of Ukraine will include a measure to exclude Russia's Sberbank from the SWIFT financial messaging system.

Sberbank is Russia's biggest lender, and adding it to the sanctions list will further isolate its financial system as sanctions begin to bite, more than three months after its forces invaded Ukraine.

Local people share a basement of a historical building which is being used as a bomb shelter during an air raid warning in the Western Ukrainian city of Lviv, 26 March 2022, amid the Russian invasion. Mykola Tys, EPA-EFE
Local people share a basement of a historical building which is being used as a bomb shelter during an air raid warning in the Western Ukrainian city of Lviv, 26 March 2022, amid the Russian invasion. Mykola Tys, EPA-EFE

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