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UK Foreign Secretary Liz Truss is appealing to Western allies to continue efforts to curb Russian occupation of Ukraine and to ensure that no Russian bank has access to the SWIFT banking messaging system.
UK Foreign Secretary Liz Truss is appealing to Western allies to continue efforts to curb Russian occupation of Ukraine and to ensure that no Russian bank has access to the SWIFT banking messaging system.
This statement was made today, at the Ministry of Foreign Affairs in Lithuania, during a joint press conference between Truss and its counterparts from Lithuania, Latvia and Estonia.
She added that the UK has worked with the US, the EU and the G7 to cut off funding to Russia, ousting Russian banks from the financial system, closing airspace to Russian aircraft and passing sanctions against Russian oligarchs.
“We need to make sure that no Russian bank has access to SWIFT and we need to go further in reducing our dependence on hydrocarbons from Russia, including oil, gas and coal,” Truss added.
She went on to say that “we must degrade the Russian economy, to stop the ability to finance Putin’s war machine.”
On Wednesday, seven Russian banks were removed from the World Bank Interbank Financial Telecommunication Company (SWIFT), a key messaging service linking financial institutions around the world.
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