EU bans Russian banks from SWIFT, imposes sanctions on Russia Today and Sputnik

The European Council has introduced further restrictive measures to suspend the broadcasting activities of Sputnik and RT/Russia Today while officially banning Russian banks from the SWIFT system. 

The council has decided to ban Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, VNESHECONOMBANK (VEB), and VTB BANK from the SWIFT system - a measure that will also apply to anyone established in Russia whose propriety rights are directly or indirectly owned for more than 50% by the same banks. 

It will also be prohibiting any investment, participation, or contribution to future projects co-financed by the Russian Direct Investment Fund. Euro banknotes are banned from being sold, supplied, transferred or exported to Russia. 

The EU decided to suspend the broadcasting activities of Sputnik and Russia Today, as well as the latter's foreign branches such as RT English, RT UK, RT Germany, RT France, and RT Spanish. 

Their broadcasting activities will remain suspended "until the Russian Federation and its associated outlets cease to conduct disinformation and information manipulation actions against the EU and its member states".

EU High Representative Josep Borrell described the measure as an "important step against Putin’s manipulation operation and turning off the tap for Russian state-controlled media in the EU".

"We have already earlier put sanctions on leadership of RT, including the editor-in-chief Simonyan, and it is only logical to also target the activities the organisations have been conducting within our Union."

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