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SWIFT can switch Russia off only on direct EU order

September 01, 2014, 17:56 UTC+3 MOSCOW
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
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© EPA/PATRICK SEEGER

MOSCOW, September 01. /ITAR-TASS/. International banking transaction system SWIFT can switch Russia off its network only on direct orders from the EU authorities, Executive Director for Russia Roman Chernov told ITAR-TASS Monday.

“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.

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