SWIFT announced that it expects a list of Russian banks to be disconnected from the global system as sanctions against Russia are imposed, Reuters reported.

The European Union, the United States, France, Germany, Italy, Canada and Britain agreed Saturday to exclude individual Russian banks from SWIFT.

"We will always comply with applicable sanctions laws," SWIFT said in a statement. "We are engaging with these authorities to understand which entities will be subject to these new measures and will disconnect them once we receive legal instruction to do so."

The global financial system is severing ties with Russia and its banks to prevent Russian companies from raising money in foreign markets.

Market sources said Bloomberg flagged Russian sovereign bonds, as well as securities linked to Russian banks VTB and Sberbank, with a warning tag that "sanctions apply to this security," though trading continued.