If the United States disconnects Russia from the SWIFT international payments system, this will lead to problems in international payments and panic in the foreign exchange market. Artem Tuzov, executive director of the capital market department of the investment company “Univer Capital”, told Prime agency about this.
However, he is sure that after a short period of fluctuations, the exchange rate will return to normal, and settlements will be carried out through alternative systems. In particular, Tuzov pointed out that all leading Russian banks and companies are connected to an alternative to SWIFT – the financial messaging system (SPFS). The economist also called an obstacle to “unprecedented” sanctions that Washington has only a hypothetical influence on SWIFT located in Belgium.
The expert noted that if in 2021 Russia adheres to its strategy and switches to the digital ruble, the need for SWIFT will disappear, since counterparties will be able to make payments without it.
December 12 Russia predicted new sanctions after the coming to power of the US-elect Joe Biden . Experts note that the United States can strike at the most painful points for Russia: restrict the access of domestic banks to the world market, disconnect the country from the SWIFT international payment system, or prohibit any transactions with Russian debt securities. For example, the expert Russian Institute for Strategic Studies Mikhail Belyaev said that the potential threat of disconnection from SWIFT” continues to hang like a sword of Damocles “over the Russian economy. At the same time, he added that although this measure will slow down the work of Russian financial institutions, they will be able to cope with it.