EU freezes Russia’s Central Bank assets and ejects banks from SWIFT

00:30 27 February – Kyiv – The Moscow Times

Major Russian banks will be kicked off the SWIFT financial communications network and Russia’s Central Bank’s assets will be “paralyzed,” the EU has announced.

EU Commission chief Ursula von der Leyen outlined an unprecedented package of “massive” sanctions as part of the 27-member bloc’s response to Russia’s invasion of Ukraine.

Financial institutions that have been sanctioned in recent days, including Russia’s largest banks, will be ejected from the SWIFT network, thwarting their ability to conduct transactions internationally, von der Leyen said in a late-night press conference in Brussels.

“We will paralyze the assets of Russia’s central bank,” she added.

“This will freeze its transactions and make it impossible for the Central Bank to liquidate its assets.”

One comment

  1. The Ruble was 34 to the dollar when Putin originally invaded Ukraine. Now it is up to 84 and the sky is the limit now 10 of Putin’s banks are out of SWIFT. Energy transactions are exempted I believe, but this ought to be the silver bullet for the Moscow Vampire.

    There is also a rumor that now the Gazprom bank is sanctioned, the Financial director has suddenly decided he could fly from his balcony. More details later I’m sure. I guess flying is better than facing Hitler with disappointment.

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