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    Question

    Which of the following bank does not control Society for

    Worldwide Interbank Financial Telecommunication (SWIFT) messaging system?
    A Central banks of the G10 countries Correct Answer Incorrect Answer
    B European Central Bank Correct Answer Incorrect Answer
    C National Bank of Belgium Correct Answer Incorrect Answer
    D Russian Central Bank Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    European Union aims to cut off Sberbank, Russia's largest lender, from the SWIFT international payment system. Western allies seek to further isolate Moscow from financial markets over its war in Ukraine. The latest proposal forms part of the EU's sixth and toughest round of sanctions, which also includes an embargo on crude oil in six months. EU's executive Commission proposed to cut Sberbank and two other Russian banks - Credit Bank of Moscow and the Russian Agricultural Bank - from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The Society for Worldwide Interbank Financial Telecommunication (SWIFT), provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. SWIFT Headquarters: La Hulpe, Belgium IDRBT Founded: 1973

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