BREAKING: U.S., allies agree to limit Russia's access to SWIFT banking system
The United States and its allies agreed Saturday to take aim at Russia through SWIFT, a service that facilitates global transactions among thousands of financial institutions.
The leaders of the European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States announced a commitment “to ensuring that selected Russian banks are removed from the SWIFT messaging system.” Some U.S. allies in Europe had been reluctant to include SWIFT as part of the sanctions against Russia since their economies are more closely tied.
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