Two More Russian Banks to Be Removed from SWIFT, Bloomberg Reports

The European Union has decided to disconnect Rosselkhozbank and Moscow Credit Bank from the SWIFT international interbank messaging system as part of its sixth sanctions package. This was reported today by Bloomberg.

These measures will come into effect after publication in the EU’s official journal. Previously, the EU had decided to disconnect the Russian Sberbank from SWIFT. It was also noted that one of the Belarusian banks (its name has not been disclosed) will similarly lose access to the system.

EU permanent representatives confirmed the legal texts of the sixth sanctions package on Thursday. The official text of the sanctions list is expected to be published on Friday, June 3.

On May 31, EU representatives announced the decision regarding Sberbank. They added that they had refrained from implementing this restrictive measure for a long time, considering that Sberbank is the country’s largest credit institution.