InvestorQ : Are the Indian banks offering SWIFT transactions with Russia currently?
Anu Biswas made post

Are the Indian banks offering SWIFT transactions with Russia currently?

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Ria Jain answered.
2 months ago
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From what we understand, SBI has already stopped processing transactions of Russian entities since they have been sanctioned by the western world. PNB said it is awaiting an advisory from Finance Ministry and RBI on SWIFT-related transactions with Russian entities. As of now, the US, Canada and certain European nations have blocked select Russian banks from using SWIFT. SWIFT system is based out of Belgium and is a global payment protocol.

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