(For instance, U.S. banks have unique SWIFT codes that customers use for incoming wire transfers in U.S. dollars.) SWIFT said it recorded an average of 42 million messages per day last year, ...

The Council of the European Union voted on Tuesday on sanctions to exclude some Russian banks from the SWIFT system, according to the official Twitter account of the French EU Council Presidency.

Major U.S. banks, including JPMorgan and Citigroup, had sought to persuade U.S. lawmakers and the Biden administration not to restrict Moscow’s access to SWIFT, Bloomberg reported.