G-7 to Target Banks Helping Russia Evade Ukraine War Sanctions
- Some allies discussing ways to target ‘Russian SWIFT’
- Leaders meeting in Italy at G-7 summit to consider new steps
The headquarters of Bank Rossii, Russia's central bank, in Moscow.
Source: Bloomberg
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Group of Seven nations and the European Union are studying ways to tighten the screws on banks that help Moscow evade sanctions.
Under consideration by some allies are measures that would target third-country lenders using the Bank of Russia’s SWIFT-like financial messaging system to circumvent trade restrictions, according to people familiar with the matter, who asked not to be identified as the discussions are private.