Handelsblatt: West no longer considers disconnecting Russian banks from Swift

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Western governments are no longer considering disconnecting Russian banks from the international Swift interbank payment system, writes the German newspaper Handelsblatt, citing German government sources.

Handelsblatt writes that, according to government sources cited, financial sanctions targeting Russian banks are being considered as an alternative.

The Russian ruble strengthened after the report.

Russia’s blockade of Swift, which would effectively cut the country off from the world economy, has long been seen as the latest sanctions Western countries could impose on Russia to prevent it from taking further military action against it. neighboring Ukraine.

The Swift system is a global network used by almost all financial institutions worldwide to send money to each other and is a cornerstone of the international payment system.



Source From: Capital

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