The European Union announced on Wednesday it has excluded seven Russian banks from the SWIFT international payment system due to Moscow’s military operations in Ukraine.
The banks included in the ban are VTB Bank, Otkrytie FC Bank, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, and VEB. According to VTB’s spokesperson, the restrictions won’t affect the bank’s financial operations across Russia.
The measures is set to take effect from March 12.
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