Two Russian banks have denied access to the SWIFT system – media

Finastra American company that has rights to the software for work with international payment system SWIFT, has refused to cooperate with the two Russian banks targeted by the sanctions.

About it reports the Russian edition “Vedomosti”, citing two sources close to banks and close to Finastra.

Videoasia prepares revenge in the case of disconnecting from the SWIFT system

TSN. Wounds

January 28, 2015, 12:19

According to the publication, access to the SWIFT shut off the Russian national commercial Bank, which now operates mainly in the occupied Crimea and is the backbone for the region, and Tempbank.

See also:

SWIFT explained why not shut off Russia from the global banking network

Finastra plans to cease cooperation with these banks until August 31. Banks can reconnect to the software from the most SWIFT, but it needs to contract and it would take several tens of thousands of dollars. And this should be done before August 31.

MCB came under EU sanctions in 2014, next year, against the Bank imposed sanctions of the United States. Tempbank is under sanctions because of their assistance to the Assad regime, but also because cooperation with the sanctioned companies and people. Recently in Tempbank was introduced a temporary administration.

See also:

North Korean banks from the “black list” was disconnected from SWIFT

We will remind, about possible disconnection of Russia from SWIFT began to speak, even in 2014 when the West imposed the first sanctions against the Kremlin over the annexation of Crimea and the war in the Donbass. Then Deputy Finance Minister Alexei Moiseev said that “Russia off from SWIFT will make life hard not only to us but to all of us trades”.

At the end of 2014 Moscow has launched the “analog” SWIFT service for the transmission of financial messages (SPFS) in SWIFT format at domestic operations.

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