Four EU countries block Russia's disconnection from SWIFT

 24 February 2022

Germany, Italy, Hungary, and Cyprus are blocking Russia's disconnection from the international interbank system SWIFT as CNN reported.

“Removing Russia from SWIFT would make it almost impossible for financial institutions to send money in or out of the country. This would seriously impact Russian businesses with foreign customers and could do real damage to the country's economy,” the message says.

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At the same time, high-ranking EU sources report that there is a split in the union amid the adoption of the issue.

It is noted that such countries as Germany, Italy, Hungary, and Cyprus are against disconnecting Russia from the SWIFT payment system.

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A high-ranking EU diplomat said that "negotiations are going on right now," but believes that economic interests are likely to win the dispute and Brussels will not disconnect Russia from SWIFT.

As we reported, the United States did not envisage Russia's disconnection from the international interbank payment system SWIFT in the first package of sanctions for aggression against Ukraine, but the issue has not been completely removed from the agenda.

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