The EU has excluded seven Russian banks from the SWIFT protocol. This will ensure that these banks are disconnected from the international Finance system and harm their ability to operate globally. The seven banks are Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, Vnesheconombank (VEB), and VTB Bank.
The EU has also introduced a ban on:
investing, participating or otherwise contributing to future projects co-financed by the Russian Direct Investment Fund;
selling, supplying, transferring or exporting euro banknotes to Russia or to any natural or legal person or entity in Russia
