SWIFT blow to Russia: the West may also suffer

The head of the EU Commission Ursula von der Leyen announced that Russia would be excluded from the SWIFT system. However, although Russia is targeted in the SWIFT decision, Western businesses may also be harmed by the sanctions.

The EU, France, Germany, Italy, the United Kingdom, Canada and the United States have agreed on the exclusion of Russian banks from the SWIFT system. In addition, these countries will take action to introduce measures aimed at restricting the use of international reserves of the Central Bank of Russia.

Earlier, the removal of Russia from the Swift system was raised, but no concrete steps were taken in this direction. The EU countries have solved the dispute on this issue among themselves.

Germany and Italy have decided to act with the countries of the union on the issue of sanctions, which they previously opposed. The countries will meet tomorrow to solve the issue.