Taiwan Joins Russia Swift Ban

Taiwan Premier confirmed Tuesday that the government would join the ban of Russian banks from the SWIFT international payment system as part of international sanctions on Russia for its invasion of Ukraine.

Premier Su Tseng-chang also said that the Taiwanese government has sent humanitarian aid to Ukraine in a show of support for the international “democratic camp.” 

Taiwan, drawing parallels with what it views as Beijing’s threats against the island, voiced sympathy for the Ukrainian people.

The whole world has seen Ukraine’s “indomitable and courageous actions in the face of the aggression of its evil neighbor and how the whole country is united to resist the enemy,” Su said. 

Su also said Taiwan condemns Russia’s aggression and will synchronize with its democratic partners worldwide in imposing sanctions.

The Belgium-headquartered Society for Worldwide Interbank Financial Communications (SWIFT) was founded in 1973, providing banks with a way to communicate rapidly and securely, linking about 11,000 financial institutions in 200 countries and territories.

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