You're reading: US to ban Russian sanction-hit banks from SWIFT financial system

Washington – Nine U.S. senators have sent a letter to the U.S. Treasury Department urging to ban Russian banks hit by sanctions from the SWIFT global financial system.

‘Even limited action by SWIFT would serve as an effective policy tool to advance U.S. and EU common goals to counter Russia’s unacceptable occupation and destabilization of Ukraine and to prevent further threats to European stability,’ the Voice of America reported on Sept. 25, citing the letter.

Earlier the European Parliament called on the EU to exclude Russia from the SWIFT system.