In the international financial system, SWIFT (Society for International Financial Telecommunications) has always played an important role. As a link for cross-border payments between global banks, its stability and fairness are crucial. However, the recent news is quite shocking - seven Russian banks have been expelled from SWIFT! This move not only affects the stability of the Russian financial system, but also has a huge impact on the international financial landscape. At the same time, the scope of EU sanctions has also been extended to the cryptocurrency field, triggering huge market fluctuations and discussions.

In this era of information explosion, news about the expulsion of Russian banks from SWIFT and EU sanctions on cryptocurrencies quickly spread around the world. This is not only a major event in the financial field, but also the intersection and collision of international politics, economy, technology and other fields. This article will delve into the impact of this incident and the deep meaning behind it from multiple angles, leading readers into the center of this financial crisis, and exploring the causal relationship and possible future trends.

 Russian Bank Expelled from SWIFT: The Beginning of the Financial Shock

First, let’s focus on the expulsion of seven Russian banks from SWIFT. SWIFT is the core system for global inter-bank cross-border payments. Once a bank is excluded, its international payment business will be severely affected. This will not only cause instability in the Russian economic system, but will also have a profound impact on the international financial order.

Judging from historical data, SWIFT's exclusion is a severe financial sanction, which usually leads to serious consequences such as currency devaluation and capital outflows of the excluded party. For a large country like Russia that relies on international trade, being expelled from SWIFT will mean that its financial connections with other countries in the world are blocked, which will in turn affect domestic economic development and financial stability.

 EU Sanctions Cryptocurrencies: Impact on Digital Currency Market

In addition to the impact on the traditional financial sector, the EU has also extended the scope of sanctions to the cryptocurrency sector, which to a certain extent demonstrates the uncertainty and risks of the digital currency market. As an emerging financial instrument, cryptocurrency has always attracted attention for its volatility and regulatory difficulties. The EU's move this time has sent a clear signal to the market that the cryptocurrency market will face more stringent supervision and regulations.

In the cryptocurrency market, the value of virtual assets fluctuates greatly, and investors need to bear greater risks. The EU's sanctions will further increase market uncertainty and may cause more investors to be cautious about digital currencies. At the same time, as a new type of asset, cryptocurrency’s compliance and regulatory issues need to be resolved urgently. The EU’s actions also remind countries around the world of their regulatory needs for the digital currency market.

 The intersection of finance and politics: the changing global landscape

The expulsion of Russian banks from SWIFT and EU sanctions on cryptocurrencies are not only due to adjustments in the financial sector, but also changes in the international political landscape. As the process of globalization accelerates, the interest entanglements and games between countries have become increasingly complex, and finance, as an important tool of influence, plays a crucial role.

In this financial turmoil, relations between Russia, the EU and other countries will face new challenges and opportunities. How to balance domestic economic development and international financial relations has become an urgent issue for governments of all countries to consider. At the same time, the rise of digital currency has also brought disruptive effects to the traditional financial system, and the future financial landscape will be more diversified and complex.

 Looking ahead: A new chapter in global finance

As Russian banks are expelled from SWIFT and EU sanctions on cryptocurrencies continue to unfold, the global financial system is undergoing an unprecedented change. This is not only a financial crisis, but also an adjustment and reshaping of the global financial order. Countries need to strengthen cooperation to jointly maintain global financial stability and security and promote innovation and development of financial technology.

In this era full of challenges and opportunities, we need to remain vigilant, respond rationally to various financial risks, and grasp the rhythm and direction of financial development. The expulsion of Russian banks from SWIFT and EU sanctions on cryptocurrencies are just a microcosm of the changes in the financial sector. More challenges and variables are coming to us. Let us work together to create a new chapter in global finance!

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The European Union held a meeting on the 2nd to announce a list of seven Russian banks to be sanctioned. Russia's two major banks were not included. The EU Finance Ministers' meeting stated that sanctions against Russia will include cryptocurrency, and the scope of sanctions will be expanded to Belarus.

After discussions, the 27 EU member states announced on the 2nd that they had decided to exclude 7 Russian banks from the SWIFT cross-border payment system, which is expected to take effect on the 12th. The seven banks include Russia's second-largest bank VTB
Bank), Bank Otkritie, Novikombank, Promsvyazbank, Bank of Russia (Bank
Rossiya), Sovcombank, Russian State-owned Development Bank (VNESHECONOMBANK), etc.

It was originally believed that the country's top financial institutions, such as Russia's largest Federal Savings Bank (Sberbank) and energy-related Gazprombank, would be the main targets of sanctions, but they were not included in the final list.

Russia's stock market was closed due to the sharp depreciation of the ruble. However, the Russian Foreign Trade Bank (VTB Bank) listed in the UK was still open as usual, and its stock price fell by 50%.

French Finance Minister Bruno Le Maire said that the EU has tried its best to freeze a large number of assets of the Russian Central Bank and the sanctions will remain flexible.

Le Maire specifically pointed out that the EU will take measures against cryptocurrencies and crypto-assets to prevent Russia from using them to circumvent financial sanctions.

According to Reuters, German Finance Minister Christian Lindner
Lindner agreed with Le Maire that the EU should take measures to prevent Russian individuals and banks from turning to unregulated crypto assets. "Even if war and sanctions will affect European energy prices and supply chains, the EU is ready."