U.S., allies target 'fortress Russia' with new sanctions, including SWIFT ban

FILE PHOTO: European Commission President Ursula von der Leyen speaks during a statement on Russia's attack on Ukraine, in Brussels, Belgium February 24, 2022 ahead of an EU special summit called today to "discuss the crisis and further restrictive measures" that "will impose massive and severe consequences on Russia for its actions". Kenzo Tribouillard/Pool via REUTERS

BRUSSELS/WASHINGTON (Reuters) - The United States and its allies on Saturday moved to block certain Russian banks' access to the SWIFT international payment system in further punishment of Moscow as it continues its military assault against Ukraine.

The measures, which will include restrictions on the Russian central bank's international reserves, will be implemented in the coming days, the nations said in a joint statement https://www.whitehouse.gov/briefing-room/statements-releases/2022/02/26/joint-statement-on-further-restrictive-economic-measures that also vowed further action to come.