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EU Seeks to Block Seven Russian Banks From Swift, Including VTB

  • Sberbank, Gazprombank left off draft list; VTB faces ban
  • Talks are ongoing between the EU and U.S. on the measures
A VTB Bank branch in Moscow, on Feb. 28.

A VTB Bank branch in Moscow, on Feb. 28.

Photographer: Andrey Rudakov/Bloomberg
Updated on

The European Union is discussing the exclusion of seven Russian banks from the SWIFT financial-messaging system, but the proposed list spares the nation’s biggest lender and a bank part-owned by Russian gas giant Gazprom PJSC

VTB Bank PJSC and Bank Rossiya are among the banks which would face a ban from the messaging system that enables trillions of dollars worth of transactions around the world, according to a draft list of the proposal seen by Bloomberg. The list is being discussed by EU government envoys in Brussels on Tuesday and is subject to changes before its official release.