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US, allies to kick certain Russian banks out of SWIFT banking system

The Biden administration and European allies will cut Russia out of access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Source… Visit Original Source…

The Biden administration and European allies will cut Russia out of access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

We’ve now sanctioned Russian banks that together hold around $1 trillion in assets. We’ve cut off Russia’s largest bank, a bank that holds more than one third of Russia’s banking assets by itself, cut it off in the us financial system. And today we’re also blocking four more major banks. That means every asset they have in America will be frozen. This includes VTB the second largest bank in Russia, which has $250 billion in assets.

As promised. We’re also adding the names to the list of Russian elites and their family members that were sanctioned as well. Putin is the aggressor. Putin chose this war and now he in his country will bear the consequences.

Today I’m authorizing additional strong sanctions and new limitations on what can be exported to Russia. This is going to impose severe cost on the Russian economy. Both immediately and over time. We have purposely designed these sanctions to maximize the long-term impact on Russia, and to minimize the impact on the United States and our allies.

We saw a stage political theater in Moscow. Outlandish and baseless claims that Ukraine was about to invade and launch a war against Russia. That Ukraine was prepared to use chemical weapons, the Ukraine committed a genocide without any evidence. We saw a flagrant violation of international law and attempting to unilaterally create two new so-called republics on sovereign Ukrainian territory.

Video Edit/Translation: Yanbohaomiao | Video Production/Subtitle: Mustard | Edit: FiLaWenxinxin | Publish: Duanbo

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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