UPDATE: The European Commission has formally committed to cutting some Russian banks off from the SWIFT interbank messaging system. iamsandali and nikhileshde report
Given that SWIFT is based in Belgium, support across the European bloc was critical to expel any country, such as Russia.publicly supporting the decision to remove Russia from SWIFT.
On Friday, White House press secretary Jen Psaki said during a press briefing that the administration had not taken a SWIFT ban on Russia off the table. "There’ll be ongoing discussions about that. As you know, SWIFT is a messaging service that connects 11,000 banks. And many would argue that there are ways that — that Russia — the Russian leadership could get around that over the course of time, but it certainly remains an option on the table," Psaki said.
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