Demonstrators across Europe today called for Russia to be excluded from the Swift international payments system.
(Photo: dpa)
Berlin Western states exclude Russian banks from the Swift international payment information system. This was announced by the federal government on Saturday evening.
There is no complete exclusion of Russia from Swift, but a targeted decoupling of individual banks. Government spokesman Steffen Hebestreit announced that all Russian banks that are already sanctioned by the international community will be excluded from Swift. If necessary, other Russian banks are to be added. “The aim is to cut off these institutions from international financial flows, which will massively restrict their global activities,” Hebestreit explained.
Perhaps the most important measure of the financial sanctions announced Saturday night are restrictions on Russia’s central bank. Putin’s resilience has repeatedly been justified by the fact that Russia has accumulated enormous foreign currency and gold reserves in the past. Most sources speak of a volume of 630 billion dollars, according to other sources it should be around 500 billion dollars.
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