The European Union, United States and other western countries on Saturday announced they would cut off a “certain number of Russian banks” from the SWIFT international payments system as well as inflict restrictions on Russia’s Central Bank.
France, Germany, Italy, the United Kingdom and Canada joined the decision to “ensure that these banks are disconnected from the international financial system and harm their ability to operate globally,” according to the joint statement.
The group likewise stated they would impose “restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.”
“We will paralyse the assets of Russia’s central bank,” said EU Commission President Ursula von der Leyen. “This will freeze its transactions. And it will make it impossible for the Central Bank to liquidate its assets.”
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