Western allies including UK agree to boot Russian banks OUT of Swift system over Ukraine invasion in major blow to Putin

WORLD leaders have agreed to cut selected Russian banks out of the Swift banking system. The UK, the EU and US tonight condemned Putin’s “war of choice” and attacks on Ukraine. GettyWestern allies have agreed to boot Russian banks out of the Swift system[/caption] A statement issued by the White House said: “We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion. “We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin. “As Russian forces unleash their assault on Kyiv and other Ukrainian cities, we are resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our economies.” In listing the measures to be implemented in the following days, at the top was ensuring selected Russian banks are removed from the Swift messaging system. “This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.” Swift processes transactions worth trillions of dollars and is used around the world by more than 11,000 banks and financial institutions. Most read in The Sun ROM QUITS Roman Abramovich sensationally gives up control of Chelsea in shock statement 'FIGHTING BACK' 'Hundreds of Russians captured near Kyiv' as Putin fails to take capital 'DIFFICULT MOMENT' Sky Sports' Hayley McQueen heard 'crying' on air leaving fans concerned BATTLESHIPS Russian cargo ship SEIZED in English Channel for 'violating EU sanctions' BUZZ OFF I was about to meet my Bumble date when he sent me shocking text meant for his pal up in arms Gogglebox fans all saying same thing about Daniel Lustig as he returns to show The leaders also committed to imposing restrictive measures to prevent the Russian Central Bank from deploying its international reserves and will target people and entities who facilitate the war in Ukraine. The statement said: “Specifically, we commit to taking measures to limit the sale of citizenship-so called golden passports-that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems. “Fourth, we commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions. “As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. “We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world. “Finally, we will step up or co-ordination against disinformation and other forms of hybrid warfare.”