What exclusion from the SWIFT banking system means for Russia

As part of Western sanctions, many of Russia's banks have been banned from the SWIFT system. Saloni Sardana explains what that is, and how the ban will affect Russia

Sberbank logo
Sberbank is Russia's largest bank
(Image credit: © ROLAND SCHLAGER/APA/AFP via Getty Images)

If Russian president Vladimir Putin had any doubt that the West was serious about imposing strict sanctions against its invasion of Ukraine, he met with a nasty surprise this weekend.

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Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni