The Korea Herald

Ukraine war: Russian banks to be cut off from SWIFT international payments system, says EU chief

By euronews (in English)

Published : Feb. 27, 2022 - 16:57

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The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a high-security intermediary system that allows banks and institutions around the world to carry out financial transactions – that is, ordinary payments – among each other.