Some Russian banks will be barred from using SWIFT by the United States and Europe

Some Russian banks will be barred from using SWIFT by the United States and Europe

A coalition of NATO-aligned countries has committed to new steps aimed at disassociating Russia from the global financial system, the countries stated today in a joint letter. The letter, signed by the US, the United Kingdom, Canada, and European allies, outlines fresh measures to isolate Russia’s central bank and establishes a new trans-Atlantic task team to freeze sanctioned individuals’ foreign assets.