Russian banks financing the war in Ukraine were not disconnected from SWIFT – StateWatch

Russia pays its army for the war in Ukraine through a large bank that has avoided sanctions.

According to the legislation of the occupying country, 10 banks can serve the participants of the defense order and carry out its banking support / photo REUTERS
According to the legislation of the occupying country, 10 banks can serve the participants of the defense order and carry out its banking support / photo REUTERS

In the fifth month of Russia’s full-scale military invasion of the territory of independent Ukraine, four Russian banks that are authorized to serve the Russian military-industrial complex have not been disconnected from the SWIFT electronic payment system .

Reported by  StateWatch .

According to analysts, Gazprombank, on whose cards the Russian occupiers receive salaries, PJSC Bank Saint Petersburg, JSC All-Russian Regional Development Bank and JSC Far East Bank are not disconnected from SWIFT.

According to the legislation of the occupying country, 10 banks, which are of strategic importance for the Russian government, can serve the participants in the defense order and carry out its banking support.

These banks are authorized to provide banking support for contracts in the field of the Russian state defense order. Also, these banks issue loans to defense enterprises, and the Russian government subsequently compensates them for these funds.

Screenshot of StateWatch
Screenshot of StateWatch

Disabling occupier banks from SWIFT:

On May 4, 2022, the President of the European Commission Ursula von der Leyen  presented the sixth package of EU sanctions  against the Russian Federation, including the oil embargo and the disconnection of Sberbank from SWIFT.

The new package of European sanctions included cutting off Russia’s Sberbank from the SWIFT international interbank system, blocking the broadcast of three more Russian state broadcasters in the EU, and imposing sanctions on those responsible for war crimes in Ukraine.

On June 3, 2022, the  EU disconnected  Otkritie, Novikombank, Promsvyazbank, Bank of Russia, Sovcombank, VTB, VEB.RF, Sberbank, Rosselkhozbank, Moskovsky Bank from SWIFT Credit Bank” and “Belarusian Bank for Reconstruction and Development”.

On June 11, President Volodymyr  Zelensky noted the need for a seventh package of  sanctions against Russia, which should become even more powerful.

On June 28, it became known that the Russian Federation was paying the army for the war in Ukraine through a large bank that had avoided sanctions .

(C)UNIAN 2022

4 comments

  1. Guess I don’t understand how taking a bank off SWIFT will prevent them from paying internal transfers. Or why aren’t all banks in Russia sanctioned? Must be something to do with placating krauts and frogs I guess.

      • For the sanctions to be most effective, all ruskie banks should’ve been taken from SWIFT. But, as usual, the West thinks it’s impressed the hooker as it stands before her holding its limp dick.

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