SWIFT Disconnects Designated Russian, Belarusian Entities from Network

In compliance with applicable sanctions laws and conforming to legal instructions issued by the European Union, SWIFT disconnected selected banks from its financial messaging services in March 2022.

Based on EU Council Regulation (EU) 2022/345 of 1 March 2022, SWIFT disconnected seven designated Russian entities (and their designated Russia-based subsidiaries) from the SWIFT network on 12 March 2022:

• Bank Otkritie;
• Novikombank;
• Promsvyazbank;
• Bank Rossiya;
• Sovcombank;
• VNESHECONOMBANK (VEB); and
• VTB BANK.

Based on EU Council Regulation (EU) 2022/398 of 9 March 2022, SWIFT disconnected three Belarusian entities (and their designated Belarus-based subsidiaries) from its network on 20 March 2022:

• Belagroprombank;
• Bank Dabrabyt; and
• Development Bank of the Republic of Belarus.