G7 and EU Prepare Sanctions Against Third-Country Banks Using Russian Financial Messaging System
Bloomberg reports that G7 and EU countries are preparing sanctions against banks in third countries that use Russia's Financial Messaging System (SPFS). The SPFS network includes 557 banks and companies, with 159 non-residents from 20 countries among them. This system is utilized by banks in China, Belarus, Armenia, Tajikistan, and Kazakhstan, among others. Some banks have already received notifications about the potential for restrictions on operations conducted through SPFS.
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Bloomberg reports that G7 and EU countries are preparing sanctions against banks in third countries that use Russia's Financial Messaging System (SPFS). The SPFS network includes 557 banks and companies, with 159 non-residents from 20 countries among them. This system is utilized by banks in China, Belarus, Armenia, Tajikistan, and Kazakhstan, among others. Some banks have already received notifications about the potential for restrictions on operations conducted through SPFS.
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