United States, Canada, European allies move to block 'selected' Russian banks from SWIFT

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The United States, Canada, and other European allies released a joint statement on additional sanctions being placed on Russia, which states that "selected" Russian banks are removed from the SWIFT financial system.

"We commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally," reads the joint statement from leaders of the European Commission, France, Germany, Italy, United Kingdom, Canada, and the United States, which was released on Saturday.

Russian President Vladimir Putin speaks as he attends the G20 summit via videoconference in Moscow, Russia, Saturday, Oct. 30, 2021. The two-day Group of 20 summit is the first in-person gathering of leaders of the world’s biggest economies since the (Evgeniy Paulin, Sputnik, Kremlin Pool Photo via AP / AP Newsroom)

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