Swift is not going to disconnect Russia from its services

The Swift International Settlement System is not going to disconnect Russia from its services, despite political pressure. This is stated in the statement published on the official website of SWIFT.

Swift and its shareholders received calls to disable individual institutions and entire countries, namely Russia and Israel, from their system. However, any decision to impose sanctions against states or individuals under the jurisdiction of competent state bodies is notified by the company.

“Based on the EU, SWIFT fully complies with all the requirements of the current European legislation,” the document emphasizes. “SWIFT regrets the pressure, as well as ongoing speculations in the media that can undermine the systemic nature of the services that SWIFT provides to its customers around the world.”

On August 29, a representative of the British government stated that the UK will seek from the European Union of Russia to turn off the SWIFT system as a tightening of sanctions due to events in Ukraine. This step emphasizes the growing concern in Europe by the Russian invasion of Ukraine, the official noted. British Prime Minister David Cameron raised this issue at the meeting of the leaders of the EU countries. However, the new package of sanctions adopted on September 12 was not included in SWIFT.

On September 18, at the plenary session of the European Parliament in Strasbourg, the resolution "Regulation in Ukraine and the state of relations between the European Union and Russia" was adopted. Deputies of the European Parliament called on the European Union to rethink relations with Russia. As one of the pressure measures, it was proposed to disconnect Russia from the SWIFT system .

On September 25, nine American senators turned a letter to the US Department of Finance, which was called to help to turn off SWIFT Russian banks that fell under sanctions. Senators believe that such measures can become an effective tool in the general opposition of the West "unacceptable destabilization of Ukraine and the prevention of further threats to European stability" from Russia.