The SWIFT system and calls to expel Russia / Italy open to banning Russia from SWIFT system -foreign minister / Hungary latest country to back Russia being stopped from using Swift

Italy open to banning Russia from SWIFT system -foreign minister

Fri, February 25, 2022, 7:29 PM

https://finance.yahoo.com/news/italy-open-banning-russia-swift-182958399.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADLGP8mP7gZEuhOAv0kNMiQ_aHGKUswFDLAWIRWwOxk73Z3S-sdqFF6ks5w9KAcW87eNWBMPOkmA5PRR8zHtD3eW3WcrYCPXZ4QQo3e4hZTovQ36SbKZg9SPQ_QFsc-pCXfU7-zLyxVlhXj5OSG_B0nH78-fPSwFt-VrGpuEWROW

 

ROME, Feb 25 (Reuters) - Italy would not veto proposals to ban Russia from the SWIFT global interbank payment system, Italian Foreign Minister Luigi Di Maio said on Friday.

 

"There is no veto", Di Maio told reporters in Brussels answering a question on the issue, adding Rome will continue working in unison with European Union partners on sanctions. (Reporting by Angelo Amante Editing by Chris Reese)

Hungary latest country to back Russia being stopped from using Swift

https://www.theguardian.com/world/live/2022/feb/26/russia-ukraine-latest-news-fighting-kyiv-zelenskiy-assault-putin-capital

 

Hungary has said it supports Russia being shut off from the Swift cross-border financial payments system, according to Poland’s prime minister.

 

Mateusz Morawiecki said that he had spoken to Hungary’s prime minister Viktor Orbán on Saturday, where he had confirmed his support.

 

Earlier on Saturday (see 9:28), Cyprus joined the list of countries who support the move. It was thought that getting Orbán’s support may have proved a roadblock to the proposal, which aims to affect Russian business and the economy, as he is often seen as Vladimir Putin’s closest EU ally – visiting him in early February.