The 18th package of EU sanctions against Russia provides for the exclusion of more than 20 Russian banks from the SWIFT system and a ban on transactions, Bloomberg reported.
SWIFT is considered one of the most reliable communication systems in the world. It uses complex protocols for encryption and protection against cyberattacks. More than 10 billion messages are processed every year - a huge amount of data that drives the global economy.
The SWIFT system is a vital component of the modern financial world. It is behind almost every international transfer and provides the invisible but stable infrastructure without which the global economy would not function normally.
The package of restrictive measures also includes restrictions on the “Nord Stream“ gas pipelines, which are “designed to ensure that they cannot be put back into operation in the future“.