SWIFT bans, more crushing penalties on Russia

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Canada among countries moving to block Russian access to SWIFT

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

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

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Created in 1973 and based in Belgium

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

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

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

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