The Latest Breaking News from SWIFT

The European Union could exclude Russia from the SWIFT global interbank payments system in a fresh round of sanctions, European Parliament President Roberta Metsola said on Friday.

The package of banking sanctions that the European Union is imposing will hit Russian President Vladimir Putin's government harder than excluding Russia from the SWIFT payments system, German Foreign Minister Annalena Baerbock said.

British Prime Minister Boris Johnson called on leaders of NATO member countries on Friday to use the SWIFT international payments system to damage Russian President Vladimir Putin and members of his government.

US, EU, and UK are among those imposing sanctions on Russia after its attack on Ukraine.

‘It would have a massive economic impact on Russia but it also would have a massive international impact. It’s not something you could do a snap decision on’

Disconnecting Russia from the SWIFT payment system could cripple its ability to trade with most of the world.

Former EU chief Donald Tusk said countries like Germany had 'disgraced themselves' after Britain, the US and EU all announced sanctions on Russia - but failed to ban Moscow from using the SWIFT bank system

US and European officials are holding one key financial sanction against Russia in reserve, choosing not to boot Russia off SWIFT, the dominant system for global financial transactions. The Russian invasion of Ukraine caused a barrage of new financial sanctions Thursday. The sanctions are meant to isolate, punish and impoverish…

Latest updates: PM also urges leaders to take ‘immediate action’ to ban Russia from Swift payment system; sending Nato forces to Ukraine would risk leading to ‘existential’ threat, says minister