In case of disconnection from the international interbank SWIFT system, Russia will be able to use an alternative, reports The Economist.
According to the publication, the system for the transfer of financial messages (SPFS) will be used for transactions.
Other options for communication between banks in the Russian Federation and foreign partners can be telex, telephone and e-mail.
However, Western countries will find it more difficult to rebuild due to large assets in the Russian Federation worth $ 350 million. In addition, Russia supplies 35% of gas to the European Union.
We will remind, since November, the world media filled the topic of the alleged Russian invasion of Ukraine and the sanctions that should follow. According to the authors and experts of these publications, a sign of an “invasion” is the concentration of Russian military equipment in the regions bordering on Ukraine. Possible sanctions include both the shutdown of the Nord Stream 2 gas pipeline, and restrictions against Russian energy companies, and the shutdown of the SWIFT system of fast financial settlements.
Meanwhile, Ukrainian Foreign Minister Dmitry Kuleba called it a grand idea to disconnect the Russian Federation from the SWIFT international banking system as a “preventive” measure.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
