UK and France say cutting off Russia from SWIFT remains on the table

Dhwani Mehta FXStreet

According to France's Finance Minister Bruno Le Maire, cutting off Russia from SWIFT remains on the table but as a last resort.

Meanwhile, the UK Defence Minister Robert Wallace said, “we'd like to cut Russia off from SWIFT.”

“It is difficult as "not every country wants them out,” Wallace added.

Market reaction

The risk sentiment is once again taking a hit on reports that Russia’s forces have entered the Obolon district in Kyiv.

The S&P 500 futures are down 1%, as of writing while gold price is holding the bounce around $1,913.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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