Financial TimesFinancial Times

EU weighs cutting off Russian banks VTB and VEB from Swift

By Sam Fleming and Eleni Varvitsioti

01 Mar 2022 · 2 min read

Russia’s second-largest bank is among seven lenders that could be cut off from the Swift messaging network under proposals being discussed by EU member states.

VTB Bank would lose access to the network, which helps lenders to make cross-border payments, if the EU goes ahead with the proposals following consultations with the US and other partners, according to people briefed on the discussions.

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