Russia: Sanctions
(asked on 23rd February 2022) - View Source
Question to the Foreign, Commonwealth & Development Office:
To ask Her Majesty's Government what plans they have to sanction Russia by excluding them from the SWIFT international payments system.
Answered by
Lord Ahmad of Wimbledon
Minister of State (Foreign, Commonwealth and Development Office)
This question was answered on 16th March 2022
Following discussions between the UK and international partners, the EU announced on 2 March that 7 Russian banks would be removed from SWIFT on 12 March. UK pressure was instrumental to this decision. This measure on already sanctioned entities, in concert with the US and the EU, will ensure that these Russian banks will no longer be able to use SWIFT to transact with banks in any country, regardless of whether that country has imposed sanctions on Russia.