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EU, Canada, US, UK to block Russian banks from SWIFT interbank payments network

Alex Coin
February 27, 2022
Reading Time: 3 mins read
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Allied countries will block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. certain Russian banks from the interbank system in an effort to hinder Russia’s ability to make cross-border payments and try to stop armed combat in Ukraine.

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The United States, Canada, the European Union and the United Kingdom agreed on Saturday to eliminate the several Russian banks of the messaging system of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a move that will cut Russia off from much of the global financial system.

“ This will ensure that these banks are disconnected from the international financial system and impair their ability to operate globally”. They wrote in a joint statement issued by the White House. It should be noted that SWIFT is the highly secure network a network refers to all nodes in the operation of a blockchain at any given moment in time. that connects thousands of financial institutions around the world. the world. The allies announced that the move will help “garantizar colectivamente que esta guerra sea un fracaso estratégico para [el presidente ruso Vladimir] Putin”.

También prometieron “ restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in a manner that will undermine the impact of our sanctions “and restricting the sale of “ golden passports “that allow senior Russian officials to avoid the brunt of sanctions already imposed.

Bancos rusos serán eliminados de SWIFT

EU Commission President Ursula von der Leyen announced five proactive measures against the Russian authorities, starting with the removal of an undisclosed number of Russian banks from the SWIFT messaging system.

The EU Commission said it will soon launch a transatlantic working group to ensure effective implementation of all sanctions, the main aim of which is to freeze the foreign assets of Russian officials, elites and their families. At the same time, they indicated plans to increase coordination against disinformation and other forms of hybrid warfare.

The news comes after American countries and their European allies imposed a round of sanctions against Russia for its unprovoked attack on Ukraine. Nations have also sanctioned high-ranking Russian officials, including Vladimir Putin in an attempt to limit the finances of the president and his close refers to the closing price; similar to the same term used in stock trading. circle.

Operated by an independent company based in Belgium, SWIFT functions as an internal messaging system between more than 11,000 banks and financial institutions in more than 200 countries and territories. The support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. of the entire European bloc was critical to expel any country, such as Russia.

Some analysts have pointed out that Russia’s blocking of the interbank payment network could motivate the government to turn to digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies as a Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. due to its decentralization. “ Removing Russia from SWIFT will force them to fully adopt Bitcoin “ said the founder and CEO of Quantum Economics Mati Greenspan, in a tweet . “ This is NOT good for Bitcoin “, enfatizó.

…this is NOT good for Bitcoin.

— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan)February 26, 2022

Mientras tanto, la medida podrían tener implicaciones de gran impacto geopolítico global. Según Associated Press , Rusia declaró previamente que ser expulsado de SWIFT equivaldría a una declaration of war.


  • U.S. Imposes Sanctions on Vladimir Putin; Bitcoin and Major Cryptocurrencies React to the Rise
  • Bitcoin trading in Ukraine soars 300% as conflict with Russia escalates
  • Two major banks in China have closed financing lines for the purchase of raw materials from Russia.

Sources: CNBC , CNN , CoinDesk , Cointelegraph

Article by Hannah Estefania Perez / DiarioBitcoin

Imagen de Unsplash

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Alex Coin

Cryptoinvestor. I follow the world of cryptocurrencies. Looking for the most relevant and significant news for you :)

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