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Ukraine crisis: SWIFT says it is preparing to comply with curbs on Russian banks

'We are engaging with European authorities to understand the details of the entities that will be subject to the new measure'

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The SWIFT international payments system said on Saturday it was preparing to implement Western nations' new measures targeting certain Russian banks in coming days.

"We are engaging with European authorities to understand the details of the entities that will be subject to the new measures and we are preparing to comply upon legal instruction," it said in a statement.

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