Russia's Gazprombank, which was not excluded from the SWIFT financial-messaging system, continues to finance the war in Ukraine.
Gazprombank and Promsvyazbank continued to procure UAVs, military weapons and electronic warfare systems for the 47th Tank Division, according to Defense Intelligence of the Ministry of Defense of Ukraine.
"SWIFT disconnected Promsvyazbank from their network on 12 March 2022. However, only the United Kingdom imposed sanctions against Gazprombank, which acts as the main financial institution to process payments for russian energy supplies from European customers," the intelligence sources said.
In response to Russia's war in Ukraine, leading Western nations made the decision to bar several Russian banks from the SWIFT system.
The European Union has excluded the following banks from the international SWIFT system: Otkrytie, Novikombank, Promsvyazbank, Bank of Russia, Sovcombank, VNESHECONOMBANK (VEB) and VTB BANK. Russia's largest financial institution, Sberbank, was not excluded from SWIFT.