Russia: Sanctions

Question

Following discussions between the UK and international partners, the EU announced on 2 March that 7 Russian banks would be removed from SWIFT on 12 March. UK pressure was instrumental to this decision. This measure on already sanctioned entities, in concert with the US and the EU, will ensure that these Russian banks will no longer be able to use SWIFT to transact with banks in any country, regardless of whether that country has imposed sanctions on Russia.