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The European Union expelles seven Russian banks, including VTB Bank, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, and VEB.RF, from the SWIFT financial messaging system. Russian stocks have experienced a significant loss of value on the London stock exchange, with a total wipeout amounting to $570 billion over two weeks. Companies such as Gazprom and Lukoil have seen a near-complete collapse in their stock value. Additionally, the World Bank has halted all programs in Russia and Belarus due to the invasion of Ukraine.
Tuesday, 1 March, 2022