Bank for International Settlements suspends Russia central bank from all services

Bank for International Settlements suspends Russia central bank from all services

"The access of Central Bank of Russia to all BIS services, meetings and other BIS activities has been suspended," a BIS spokesperson said.

Traffic flows past in front of the Bank for International Settlements (BIS) in Basel (Photo: Reuters)
Reuters
  • Mar 10, 2022,
  • Updated Mar 10, 2022, 8:26 PM IST

Russia has been suspended from the Bank for International Settlements as a result of Western sanctions, the central bank umbrella group said on Thursday.

"The access of Central Bank of Russia to all BIS services, meetings and other BIS activities has been suspended," a BIS spokesperson said.

The Basel, Switzerland-based institution was following all international sanctions as applicable, and would not be used to circumvent sanctions, the spokesperson added.

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