SWIFT bans, more  crushing penalties on Russia

Canada among countries moving to block Russian access to SWIFT

London/New York- A decision by Western allies on Saturday to block "selected" Russian banks from the SWIFT

European Union, US, UK and allies have agreed to exclude a number of Russian banks from Swift

Created in 1973 and based in Belgium

Swift links 11,000 banks and institutions in more than 200 countries

The United Stated and European nations agreed Saturday to impose the most potentially crippling financial penalties yet on Russia

A.U.S. defence official said Ukraine's forces were putting up "very determined resistance"

To Read More