Sanctions against Putin: what is the “Swift” banking system and why it is talked about so much

LONDON – It is a cause for disagreement among Western allies, but for some it is potentially a very powerful weapon against Vladimir Putin. We are talking about the Swift banking system, so far not included in the US, UK and EU sanctions against Russia, due to some alleged resistance between European countries, including Germany and Italy. For Foreign Minister Di Maio “it is an option on the table, we have never opposed”, while sources from Palazzo Chigi respond with “no request for an exception from Italy, whose position is aligned with that of the EU” .