China News Service, February 27 (Reuters) - The Society for Worldwide Interbank Financial Communication (SWIFT) international settlement system said it was ready to implement new measures by Western countries targeting certain Russian banks in the coming days.

  "We are engaging with European authorities for details on the entities involved, and we are preparing to comply with the relevant sanctions against Russia as directed by law," the company said in a statement.

  Earlier, the United States, the European Union, the United Kingdom and Canada issued a joint statement announcing that several major Russian banks were prohibited from using the SWIFT international settlement system as the latest sanctions against Russia.

  European Commission President von der Leyen said this would prevent the banks from carrying out most financial transactions globally and effectively block Russian imports and exports.