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EU considering SWIFT exclusion for Belarus banks - official

The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an EU official said on Thursday.

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The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an EU official said on Thursday.

Highlights

  • EU considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions.
  • EU official: “SWIFT is not as strategically important in the Belarus economy as it is in the Russian side” EU has already done for seven Russian banks, an EU official said on Thursday.
  • The EU is also looking at the preparation of the equivalents for the Belarus financial sector, the official said.
  • The European Union is considering excluding the Belarus banks from the messaging system, as it has done for 7 Russian banks in recent years, an official said in a press conference in Brussels.
  • The move is expected to take place in the next few months.