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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