Germany has spoken out against Russia’s disconnection from SWIFT in the event of an attack on Ukraine
According to Friedrich Merz, the exclusion of Moscow “would break the backbone of the payment system.”
Mertz warned against excluding Russia from the Swift system / photo: GLOBAL LOOK PRESS
The candidate for leader of the Christian Democratic Union, Friedrich Merz, who is likely to become the new leader of the parties, warned against excluding Russia from the international banking payment system Swift.
He is quoted by the publication The day mirror.
“Denying access to Swift could be an atomic bomb for capital markets and for the relationship between goods and services,” he said. “We must leave Swift intact.”
Read alsoKuleba on arms purchases in Germany: Ukraine is in talks with some Allies“If something like this happened, I would see serious economic setbacks for our economies. It would hit Russia. But we have done significant damage as a strong exporting country,” Merz said.
He decided that he feared serious consequences not only for European-Russian trade in services and goods, but also for world trade.
“Swift is a system for processing international money transactions with goods and services. Shutting down Moscow would “essentially break the backbone of this international payment system,” he said.
support, earlier the head of the Russian bank “VTB” Andrei Kostin said that Russia will survive disconnection from the SWIFT payment system in the event of a new aggression against Ukraine.