NextGen Day

BERLIN (Reuters) – According to German government spokesman Steffen Hebenstreit, the United Kingdom, Germany, Italy, Canada, the United States, France, and the European Commission agreed to impose new “tough financial sanctions” on Russia, including disconnecting some of its banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system.

“All Russian banks that are already subject to international sanctions, as well as other Russian institutions if necessary,” he stated.

In a televised address on February 24, Russian President Vladimir Putin said that in response to a request from the heads of the Donbass republics, he had decided to launch a special military operation to protect people “who have been subjected to abuse and genocide by the Kiev regime for eight years.”

Putin stated that Russia has no plans to invade Ukrainian territory. Its goals are for the country to be demilitarized and denazified.

Following the declaration, the US, the European Union, the UK, and a number of other countries levied penalties against Russian officials and persons.

According to European Commission President Ursula von der Leyen, some Russian banks will be disconnected from the worldwide SWIFT system.

“We are committed to removing a specific number of Russian banks from SWIFT,” she stated.

The action, according to Von der Leyen, will effectively restrict Russian imports and exports.

The US, UK, Germany, Italy, Canada, France, and the European Commission have agreed to suspend six Russian banks from the SWIFT international interbank system, according to a joint statement released by the governments.

“We are determined to continue imposing penalties on Russia that will further isolate Russia from the world financial system and our economies as Russian soldiers launch an assault on Kyiv and other Ukrainian cities. We will put these safeguards in place in the next days “According to the statement.

“We pledge to take the following steps in particular: first, we will ensure that selected Russian banks are excluded from the SWIFT messaging system. This will cut these banks off from the international financial system, limiting their capacity to operate internationally “the document has been added

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