The West could still kick Russia out of SWIFT as the 'last resort'
CNN
The West has announced a barrage of tough new sanctions aimed at cutting off Russia's banks from the global financial system and depriving the country of vital technology. Yet a punishing financial weapon is being kept in reserve.
The United States and the European Union held back from cutting Russia off from SWIFT, a high security messaging network that connects thousands of financial institutions around the world, after failing to agree on a step that some have called the "nuclear option." It would damage Russia but also big economies in Europe.
Ukraine appealed for Russia to be removed from SWIFT after President Vladimir Putin ordered an invasion on Thursday. The call from Kyiv was backed by Lithuania, Estonia, Latvia and the United Kingdom but other European countries resisted.
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