Russia Touts SWIFT Alternative, But Will Keep Its Members Secret
- Central bank removes list of participants from website
- Many big Russian banks pushed from SWIFT by sanctions
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A day after Bank of Russia Governor Elvira Nabiullina touted the country’s alternative to the SWIFT financial-messaging service, the regulator said it will no longer publicly disclose who participates.
U.S. and European sanctions over Russia’s invasion of Ukraine have cut several major banks off from SWIFT. But Nabiullina told parliament Monday that 52 institutions from 12 countries are participating. Until recently, the list was posted on the central bank’s website.