Artyom Tuzov, Executive Director of the Capital Market Department at Univer Capital, said that the possible disconnection of Russia from the SWIFT banking information exchange system would create problems for Moscow in international settlements and generate panic in the foreign exchange market.
According to him, after such sanctions that Russia is threatened with in the United States, Washington will also have a hard time.
First, the United States has only hypothetical influence over SWIFT, which is headquartered in Belgium. Secondly, Russia can impose rather tough sanctions on American banks and politicians, which is disadvantageous for the country recovering from the crisis., – noted Aces in a conversation with PRIME agency.
The expert added that Moscow can adapt to such restrictions, especially since in 2014 an alternative to SWIFT was created – the financial messaging system (SPFS), to which all leading banks and companies in Russia, as well as foreign banks from the countries of the Eurasian Economic Union, have access. (EAEU).
Tuzov also believes that the need for SWIFT may disappear if Moscow introduces the digital ruble. The sudden disconnection of Russia from SWIFT will lead to a short period of turbulence in the dollar-ruble exchange rate, but everything will quickly return to normal, the expert emphasized.
Earlier chernayakobra.ru reported that disconnecting the Russian financial system from SWIFT would become a likely scenario for sanctions against Russia under US President Joe Biden. This was stated by an expert in the field of cybersecurity from the Center for Strategic and International Studies in Washington, James Andrew Lewis. He noted that thanks to SPFS, Russia, like its partners, is ready for a possible disconnection from SWIFT.