Germany in favour of ‘targeted and functional’ SWIFT curbs on Russia – minister

FILE PHOTO: German Foreign Minister Annalena Baerbock briefs the media following a meeting of German government’s crisis unit, at the foreign ministry in Berlin, Germany, February 24, 2022. Markus Schreiber/Pool via REUTERS

February 26, 2022

BERLIN (Reuters) – Germany is in favour of imposing “targeted and functional” restrictions on Russia from the SWIFT global interbank payment system, its foreign and economy ministers said on Saturday.

“We are urgently working on how to limit the collateral damage of decoupling from SWIFT in such a way that it affects the right people. What we need is a targeted and functional restriction of SWIFT,” Foreign Minister Annalena Baerbock and Economy Minister Robert Habeck said in a joint statement.

(Reporting by Andreas Rinke; Writing by Riham Alkousaa; Editing by David Clarke)

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