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“Switching any country off SWIFT is possible…only on the basis of a direct EU authorities’ ruling,” Chernov said.
On August 29, Bloomberg reported quoting a British government official that the UK planned to press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine.
On Monday, Reuters quoted an EU diplomat as saying the idea had been floated several months ago, but that there was opposition to it among several EU countries, as the ban will lead to Russia creating an analogue to the system and nobody wants that.