Reconnection of Russian banks to SWIFT depends on negotiations on Ukraine — lawmaker
Disconnection of Russian banks from SWIFT began after the start of the special military operation in Ukraine
MOSCOW, April 8. /TASS/. The problem with reconnecting Russian banks to SWIFT will be resolved as soon as the negotiation process on Ukraine is headed towards peace, Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov told TASS.
"As soon as the hostilities cease and the real negotiation process begins towards peace, obviously, the first thing they will do is resolve the SWIFT issue for our bank, and I think, for more than one bank. One is definitely already in mind <...>. But still, everything depends on the situation. In my opinion, everything depends more on the Ukrainian side," Aksakov said.
SWIFT is an international interbank system for transmitting information and making payments. About 10,000 banks in more than 200 countries are connected to it. Disconnection of Russian banks from SWIFT began after the start of the special military operation in Ukraine. Transfers within the country are routed through the Russian equivalent of SWIFT, the Financial Messaging System of the Bank of Russia (SPFS).