Home World News The European Union disconnects three Russian banks from the SWIFT system

The European Union disconnects three Russian banks from the SWIFT system

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From June 14, the European Union disconnects three Russian banks from the SWIFT system. It is reported by RIA Novosti. The next EU sanctions list includes Sberbank, Rosselkhozbank and Moscow Credit Bank (MCB).

At the same time, credit institutions assured that disconnection from the system would not have a significant impact on their work. Regular work, including in the field of international settlements, was announced at Sberbank. Rosselkhozbank also does not expect failures and is ready to function on the basis of domestic payment platforms. The ICB indicated that domestic operations will be carried out regularly, however, the timing of the execution of foreign operations may increase.

Russia has its own financial messaging system (SPFS), which is connected to more than 11,000 major banks in almost all countries of the world.

SPFS is a channel for the transmission of electronic messages on financial transactions for messages within the country and abroad. As the head of the Central Bank, Elvira Nabiullina, said earlier, the system can replace the international interbank system for transmitting information and making payments, SWIFT, from which a number of Russian sanctioned banks were disconnected.

Read also:

• The details of the sixth package of EU anti-Russian sanctions became known • The European Union approved the sixth package of sanctions against Russia

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