Germany Stalling on Removing Russian Banks From SWIFT

Germany is resisting efforts to add Sberbank PJSC to the list of Russian banks barred from using SWIFT, the interbank messaging service, according to diplomats close to the matter, Bloomberg reported March 9. Sberbank was named on the initial list of banks being dropped from SWIFT and holds nearly half of Russian retail deposits. Documents revealed that in recent diplomatic meetings, Germany has repeatedly urged caution over further restrictions on Russia, particularly calling for caution on energy-related restrictions, Bloomberg reported. Gazprombank is another bank that's so far been spared from being removed from SWIFT, the report said.