Germany and Western allies have decided to exclude Russian financial institutions from the Swift banking communications network. This was announced by government spokesman Steffen Hebestreit on Saturday evening in Berlin. The decision was made by the United States, France, Canada, Italy, Great Britain, the European Commission and Germany.
All Russian banks that have already been sanctioned by the international community are affected. If necessary, other Russian banks should also be added. This should cut off these institutes from international financial flows, which would massively restrict their global activities.
In addition, according to the federal government, the countries decided to further restrict the possibilities of the Russian central bank to support the ruble exchange rate with international financial transactions. The sanctions adopted were also aimed at individuals and entities in Russia and elsewhere who supported the war once morest Ukraine.
In particular, the possibility for wealthy Russians to obtain a so-called golden passport and thus European citizenship for themselves and their family members should be ended.
In addition, a working group with representatives from the USA and the European Union should be set up to ensure the speedy implementation of the sanctions and to freeze the assets of sanctioned individuals, their families and companies. The countries therefore emphasized their willingness to take further measures should Russia
