Sanctions work. The EU is disconnecting three more Russian banks from SWIFT

Kostia Andreikovets

As of today, within the framework of the sixth package of sanctions, the European Union is disconnecting the largest Russian bank, Sberbank, as well as Rosselkhozbank and Moscow Credit Bank, from the SWIFT interbank system.

The BBC writes about this.

These banks have stated that the shutdown will not greatly affect their work.

Sberbank says that they work normally and the situation with international payments will not change much for them.

The Moscow Credit Bank noted that operations within Russia will be carried out on a regular basis, but with payments abroad, their terms may increase.

Rosselkhozbank stated that they have all the necessary conditions for autonomous work.

  • The sanctions were agreed upon in late May. Earlier, due to SWIFT sanctions, seven Russian banks were shut down — VTB, Otkrytie, Novikombank, Promsvyazbank, Rossiya, Sovkombank, and VEB (Vnesheconombank).