Economics

US and EU do not plan disconnecting Russia from SWIFT

20 march 2015 | 13:10

Such sanctions against Russia will badly hit western companies. 

ATM
Russia will not be disconnected from SWIFT yet
The US and EU currently exclude the possibility of disconnecting Russia from SWIFT international banking system, since it might lead to a large "indirect damage."

 According to the professor of finance at Stanford University Darrell Duffie, cited by Bloomberg, disabling Russian banks from SWIFT will "affect everyone", and will entirely paralyze Russia's financial system.

This would also badly affect Western companies, which would have to find other ways to get money while working in the US.

Read more: British Foreign Office: Disconnecting Russia from SWIFT' possible only as the last resort

The talks about disconnecting Russia from SWIFT have been in place for the last few months. Western analysts assign serious hopes for the measure.

Russia has already officially started developing a plan for this turn of events.

Earlier, the British Foreign Ministry announced that disconnection of Russia from SWIFT is only possible as a measure of a last resort.

Source: Bloomberg

No comments