Economics

Minister Schetyna: Russia's risking to be left without access to SWIFT

23 february 2015 | 14:55

Minister Schetyna: Russia's risking to be left without access to SWIFT if it continues to exacerbate situation in Donbas

схетина схетына
Schetyna: Disabling SWIFT for Russia can bear serious consequences for the country
If Russia continues to aggravate the situation in eastern Ukraine, it may be disconnected from the interbank system of information and payments transfer, SWIFT, says the Foreign Minister of Poland Grzegorz Schetyna

"It is one of the probable next steps. Note, however, that such measures are double-edged tools which will hurt the EU as well," – announced the Minister to Dziennik Gazeta Prawna, reports "Europeyska Pravda."

"I do not support these kinds of scenarios. But we have to be ready (for them - Ed.), depending on what happens in Ukraine," – announced the Polish Minister.

Schetyna said that he had repeatedly discussed new sanctions with the EU High Representative for Foreign Affairs and Security Policy Federica Mogherini.

"If the positive scenario does not work, we need to be ready for the next type of sanctions. We must have plans for a variety of options on scope and consequences", - commented the Foreign Minister of Poland.

Read more: EU's considering option of cutting off Russia from SWIFT

The Minister also revealed that after the shelling of Mariupol, the EU foreign ministers concluded that no new sanctions against Russia "are not impossible." A more moderate position of the new Greek government will not stop this from happening, thinks Minister Schetyna.

"If Russia further escalates the situation, sanctions will increase. I believe that is possible. The message must be clear: more violence – more sanctions," – stressed the Polish Foreign Minister.

The talks about turning off Russia from SWIFT have been taking place for the last few months. Western analysts assign serious hope for this measure. Russia has already officially begun preparing a plan for this kind of development.

Source: European Truth

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