From the BBC Breaking News:
“Western allies will remove
Russian banks from Swift”
The EU, France, Germany, Italy,
the United Kingdom, Canada, and the United States have just released a
co-ordinated statement condemning the Russian invasion. "As Russian forces
unleash their assault on Kyiv and other Ukrainian cities, we are resolved to continue
imposing costs on Russia that will further isolate Russia from the
international financial system and our economies," they say. Measures to
be implemented in the coming days include removing "selected Russian banks
from the Swift messaging system". "This will ensure that these banks
are disconnected from the international financial system and harm their ability
to operate globally."
Swift is the global financial
artery that allows the smooth and rapid transfer of money across borders.
^ Hopefully removing Russia from
Swift will bring swift economic and social damage to every Russian. Only once
the Russians themselves feel the pain in their pockets will they force
(hopefully) Putin to stop murdering the Ukrainian People. If they don't they
will be judged as harshly as the Germans were in 1945. ^
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