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The US is seriously evaluating whether to seek deportation of Russia to SWIFT

2022/02/26 03:52

The U.S. is seriously considering whether to seek to expel Russia from SWIFT, according to people familiar with the matter, as its European allies are enthusiastic about the idea of imposing punishments, which seemed unlikely just a few days ago. Biden administration officials are currently debating whether to push the EU to issue a directive banning Russia's use of SWIFT, though the U.S. and EU will not make a decision right away. Officials are discussing the matter with the Fed, two people familiar with the matter said. The Federal Reserve is one of SWIFT's regulators. Negotiations with the European Commission have already begun, another said.
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