A total of 13 financial organizations processing cross -border payments and play an important role in the penalty of penalties.
In the Russian Federation, the Banks AK Bars, Uralsib, Point, Sinara, Roseximbank, National Reserve Bank (NRB) and many other financial organizations from March 17, 2025 will be disconnected from Swift. This was discussed in publication in the official Journal of the EU.
A total of 13 financial organizations are on the list. In addition to the transfer of six banks, Promsotzbank, BBR Bank, MirbusinessBank, Kuznetkubeskank, Kuban-credit bank, as well as the NPO of the Petersburg Settlement Center and the RNCO payment designer will also be disconnected from SWIFT.
Also, under EU penalties is the Black Sea Bank of Development and Reconstruction (CBRP).
“By introducing these organizations to the list of penalties, we are adapting our goals to what is happening in the Russian economy, which is currently more relying on regional institutions, including the bickering of penalties . These organizations process Cross -Border payments and play an important role in touring our penalties “, – said the EU report.
As you know, Russia has its own system for transferring financial messages (SPF), created by the Bank of Russia in 2014 in response to a wave of penalties. Swift’s Russian analogue provides a transfer of messages not only to Russia, but also abroad. According to the results of 2023, 556 organizations are system users, more than one -quarter of them (159) are non -residents of 20 countries. Later, the central bank stopped to disclose the number of participants because of penalties.
Within the framework of the new package, penalties in the EU also imposed a ban on transactions for financial institutions based outside Russia and using SPFs.
In June 2024, the EU prohibited the use of SPFB on banks in the European Union, working outside Russia. Later, in November 2024, OFAC (the US Treasury’s Office for Foreign Activity) issued a warning for financial institutions not from the United States connected to the SPFs.
Remember, on November 21, the United States announced the biggest penalty against banks in the Russian Federation since the spring of 2022, when Sberbank and VTB were cut from the global financial system. Restrictions affect 50 Russian banks, including Gazprombank, which is the only “hub” for EU calculations for gas and maintains access to Swift.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.