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.
