All Russian banks that have already been sanctioned by the international community, and if necessary, other Russian banks will be excluded from SWIFT, the press service of the German Cabinet of Ministers said following the talks of Western leaders that took place on Saturday evening (Central European time).

“Tonight (Saturday), the United States, France, Canada, Italy, the United Kingdom, the European Commission and Germany have decided to impose additional tough financial sanctions against Russia in response to the ongoing attacks by Russian troops in Ukraine. All Russian banks that have already been sanctioned by the international community, and if necessary, other Russian banks will be excluded from the SWIFT international payment system. This is aimed at isolating these institutions from international financial flows, which will significantly limit their global activities,” the report says.