Ministry of Foreign Affairs rated possible consequences of disconnection of Russia from SWIFT

Turning off Russia from the interbank SWIFT system will lead to losses of the company in financial and image plan. So possible consequences appreciated the deputy head of the Russian Foreign Ministry Alexander Pankin in conversation with RIA Novosti.

According to him, in Russia a lot of payments are made through this system. Including debt payment, consolidated flow payments and others. “There must be a reason that such a draconian measure is introduced. This reason should outweigh those material losses, inconvenience, image losses for SWIFT, and SWIFT is a cooperative,” the Pankin explained.

Earlier, the head of VTB Bank Andrei Kostin stated that he did not consider Russia’s disconnection from the interbank system possible. According to him, it will be necessary to connect the government of European countries.

A call to disable Russia from SWIFT previously made the largest fraction of the European Parliament – the European People’s Party (UNP). However, the Supreme Representative of the European Union on Foreign Affairs and Security Policy Josep Borrel later acknowledged that this is not included in the competence of the EU.

/Media reports.