The SWIFT banking transaction system rejected “individual callsand pressure” to block institutions and countries from its network,saying only governments can make sanctions decisions.
“SWIFT and its stakeholders have received calls to disconnectinstitutions and entire countries from its network—most recentlyIsrael and Russia,” the Belgium-based Society for WorldwideInterbank Financial Telecommunication said today in a statement onits website. “SWIFT will not make unilateral decisions todisconnect institutions from its network as a result of politicalpressure,” according to the statement.
The U.K. floated the idea of blocking Russian access to SWIFT, themessaging system for most international money transfers, ahead of asummit of European Union (EU) leaders in August. The move wasn'tconsidered at the time, according to two European officials.
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