“The US, Britain, the EU and Canada have moved to block Russia’s access to the Swift international banking payment system.

“There had been mounting pressure for greater sanctions as it continues its assault on Ukraine.

“In a statement issues by the White House, the countries said they condemned “[Vladimir] Putin’s war of choice and attacks on the sovereign nation and people of Ukraine”.

“It added: “We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin.”

“The UK and Spain were early supporters of the move to lock Russia out of Swift, the main secure messaging system that banks use to make rapid and secure cross-border payments, but the US was initially lukewarm and Germany was a key holdout.”

Read more at The Guardian