The Department believes that the United States lacks the tools to implement the initiative.
Russia is not in danger of being cut off from the international interbank SWIFT system. RIA Novosti wrote about this, referring to the words of Dmitry Birichevsky, Director of the Department of Economic Cooperation of the Ministry of Foreign Affairs.
- The topic of Russia’s possible disconnection from SWIFT has been actively discussed throughout 2021. In December, many more turned their attention to this issue. According to Bloomberg and CNN, the United States could use the breakup of the Russian Federation from SWIFT as a measure of sanctions pressure amid the exacerbation of the country’s political conflict with Ukraine.
- The State Department believes that America lacks the tools to implement the announced plans. The media, in turn, drew attention to the fact that disconnecting Russia from SWIFT was unfavorable for representatives of the international interbank system. In fact, if the plan is implemented, the company will lose a large segment of the market.
- Previously, the European Union wanted to apply a similar sanctions pressure scheme against Russia. Furthermore, the European Union High Representative for Foreign and Security Policy Josep Borrell announced that local regulators do not have the tools to disconnect countries from SWIFT.
- Recall that in the Russian Federation there is an analogue of the international interbank system – the Bank of Russia Financial Message System (SPFS). Also, Russia has access to the national payment system “Mir”. Regulators began to develop it against the background of the current political situation in Crimea.
Earlier, Russian Foreign Minister Sergei Lavrov argued that the country needed to leave the international payment system.