Editing SWIFT (section)

====Russia and Belarus====
{{See also|SWIFT ban against Russian banks}}
Similarly, in August 2014 the UK planned to press the EU to block Russian use of SWIFT as a sanction due to [[Russian military intervention in Ukraine (2014–present)|Russian military intervention in Ukraine]].<ref>{{Cite news |last1=Hutton |first1=Robert |last2=Ian Wishart |date=29 August 2014 |title=U.K. Wants EU to Block Russia From SWIFT Banking Network |agency=[[Bloomberg News]] |url=https://www.bloomberg.com/news/2014-08-29/u-k-wants-eu-to-block-russia-from-swift-banking-network.html |access-date=31 August 2014}}</ref> However, SWIFT refused to do so.<ref>{{Cite press release |title=SWIFT Sanctions Statement |url=http://www.swift.com/about_swift/shownews?param_dcr=news.data/en/swift_com/2014/PR_swift_sanctions_statement.xml |work=swift.com}}</ref> [[SPFS]], a Russian alternative to SWIFT, was developed by the [[Central Bank of Russia]] as a backup measure.<ref>{{Cite news |last=Turak |first=Natasha |date=23 May 2018 |title=Russia's central bank governor touts Moscow alternative to SWIFT transfer system as protection from US sanctions |publisher=CNBC |url=https://www.cnbc.com/2018/05/23/russias-central-bank-governor-touts-moscow-alternative-to-swift-transfer-system-as-protection-from-us-sanctions.html |access-date=4 October 2018}}</ref>

During the [[prelude to the 2022 Russian invasion of Ukraine]], the United States developed preliminary possible sanctions against Russia, but excluded banning Russia from SWIFT.<ref>{{Cite news|last=Shalal|first=Andrea|date=2022-02-11|title=SWIFT off Russia sanctions list, state banks likely target -U.S., EU officials|language=en|work=Reuters|url=https://www.reuters.com/world/europe/swift-off-russia-sanctions-list-state-banks-likely-target-us-eu-officials-2022-02-11/|access-date=2022-02-14}}</ref> Following the [[2022 Russian invasion of Ukraine]], the foreign ministers of the Baltic states Lithuania, Latvia, and Estonia called for Russia to be cut off from SWIFT. However, other EU member states were reluctant, both because European lenders held most of the nearly $30 billion in foreign banks' exposure to Russia and because Russia had developed the SPFS alternative.<ref>{{cite web |title=EU unlikely to cut Russia off SWIFT for now, sources say |url=https://www.msn.com/en-gb/news/world/eu-unlikely-to-cut-russia-off-swift-for-now-sources-say/ar-AAUf89H |website=Reuters |access-date=24 February 2022 |language=en |date=24 February 2022}}</ref> The European Union, United Kingdom, Canada, and the United States finally agreed to remove a few Russian banks from the SWIFT messaging system in response to the 2022 Russian invasion of Ukraine; the governments of France, Germany, Italy and Japan individually released statements alongside the EU.<ref>{{cite web |title=Joint Statement on further restrictive economic measures |url=https://ec.europa.eu/commission/presscorner/detail/en/statement_22_1423 |website=ec.europa.eu |date=26 February 2022 |access-date=26 February 2022}}</ref><ref name=":2" />

On 20 March 2023, Russia was banned from SWIFT.<ref>{{cite web |title=New financial messaging rules for Russia approved {{!}} Bank of Russia |url=https://www.cbr.ru/eng/press/event/?id=14635 |website=[[Central Bank of Russia]] |archive-url=https://web.archive.org/web/20230812012003mp_/http://www.cbr.ru/eng/press/event/?id=14635 |archive-date=2023-08-12}}</ref><ref>{{cite news |author1=Adeela Naureen |author2=Waqar K Kauravi |title=De-dollarisation and emerging global order |url=https://tribune.com.pk/story/2415289/de-dollarisation-and-emerging-global-order |work=[[The Express Tribune]] |date=6 May 2023 |language=en}}</ref>

The [[European Union]] issued the first set of sanctions against Belarus; the first was introduced on 27 February 2022, which banned certain categories of Belarusian items in the EU, including timber, steel, mineral fuels and tobacco.<ref>{{Cite web |last=Martin |first=Jessica |date=27 February 2022 |title=EU extends Russia sanctions to airspace, media, Belarus |url=https://www.euractiv.com/section/europe-s-east/news/west-seeks-to-cripple-russian-banks-currency-in-ukraine-sanctions/ |url-status=live |archive-url=https://web.archive.org/web/20220301014247/https://www.euractiv.com/section/europe-s-east/news/west-seeks-to-cripple-russian-banks-currency-in-ukraine-sanctions/ |archive-date=1 March 2022 |access-date=1 March 2022 |website=Euractiv |language=en-GB}}</ref> After the Lithuanian prime minister proposed disconnecting Belarus from SWIFT,<ref>{{Cite tweet|number=1497981026093703180|user=nexta_tv|title=Lithuanian Prime Minister proposed to disconnect Belarus from SWIFT}}</ref> the [[European Union]], which does not recognise Lukashenko as the legitimate [[President of Belarus]], started to plan an extension of the sanctions already issued against Russian entities and top officials to its ally.<ref>{{Cite news |date=28 February 2022 |title=EU to impose new sanctions on Belarus this week -EU official |language=en |work=Reuters |url=https://www.reuters.com/world/eu-impose-new-sanctions-belarus-this-week-eu-official-2022-02-28/ |url-status=live |access-date=1 March 2022 |archive-url=https://web.archive.org/web/20220302205535/https://www.reuters.com/world/eu-impose-new-sanctions-belarus-this-week-eu-official-2022-02-28/ |archive-date=2 March 2022}}</ref>