ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Ukraine war

EU blocks seven Russian banks from SWIFT for Ukraine invasion

Sberbank, country's largest, and Gazprombank spared from sanction

The European Union blocks seven Russian banks from the SWIFT global payment system.   © Reuters

BRUSSELS -- The European Union said Wednesday it will impose additional sanctions on Russia by blocking seven of its banks from the SWIFT payment network, a move that further isolates the country from the international financial system amid its ongoing invasion of Ukraine.

The banks include state-owned VTB Bank, which is Russia's second-largest financial institution, VEB Bank, Bank Rossiya and Bank Otkritie, EU ambassadors told reporters.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more