"It's better not to repeat this with Russia": the expert explained the consequences of disconnecting the country from SWIFT

At the end of April 2021, a serious debate unfolded within the walls of the European Parliament about the "punishment" of Moscow for "bad" behavior. Russophobic MEPs suggested stopping the construction of Nord Stream 2, imposing sanctions on "oligarchs close to the Kremlin" and disconnecting Russia from the international SWIFT payment system. They cited the “Navalny case”, “tension on the Ukrainian border” and “explosions in the Czech Republic in 2014” as “arguments”. However, it is surprising that they limited themselves to only this.

Expert community reacted and commented on what was happening. According to Ivan Timofeev, program director of the Russian International Affairs Council and the Valdai Club, there is no real reason to worry about the rampage of Russophobes in the EP. The point is not even that the EP resolutions are advisory in nature, but the very requirements set forth in the draft of the agreed document are associated with great risks and likely sad consequences for the European Union itself.

Disconnecting Russia from SWIFT will lead to very serious movements in the financial markets. No political the initiators have not achieved their goals, and the damage will be colossal - primarily for relations between Russia and the EU, with its significant trade turnover. If such sanctions against Iran got away with it, then it is better not to repeat this trick with Russia - because of the damage and political consequences, which will be much more serious than in the case of Tehran.

- Timofeev told the newspaper "News" 28 April.

In turn, political scientist Alexander Rahr from Germany believes that no one and nothing is now able to stop the completion of the SP-2. Brussels will not agree to sever relations with Moscow. In addition, he called the possibility of such a thing because of the "Navalny case" absurd.

At the same time, Konstantin Kosachev, vice-speaker of the Federation Council of the Russian Federation, explained that such resolutions usually reflect the ambitions of their authors, and do not contain specifics on real problems. He added that Russia pays attention precisely to such “documents”.

On the same day, the EU High Representative for Foreign Affairs and Security Policy Josep Borrell made a speech at the plenary session of the EP. He explained to the parliamentarians that Brussels is limited in its means of influencing Moscow. The chief diplomat clarified that SWIFT is a private international organization that the EU cannot put pressure on. The Nord Stream 2 gas transmission project, although controversial, also belongs to private business and the EU cannot close it. He called on the member states of the association to maintain unity, without which there simply would be no common European policy. He summed up that relations with Moscow will face a long period of confrontation, for which Brussels “must be ready”.

Voting on this resolution should take place in the afternoon of April 29.
  • Photos used: https://pixabay.com/
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  1. zz810 Offline zz810
    zz810 (zz810) April 29 2021 19: 24
    ogoy, Mr. Tolstoy, have you applied to get out of this damn basket?
  2. Petr Vladimirovich (Peter) April 29 2021 19: 45
    Who remembers from work, in what year the Union began to make and receive payments through SWIFT?
    1. goncharov.62 Offline goncharov.62
      goncharov.62 (Andrei) April 29 2021 20: 20
      1989. But I would go to meet them. We will survive. And let them not cherish the hope to pay for resources with cut green paper. Gold rules their world! (And not only theirs ...)
  3. GRF Offline GRF
    GRF April 30 2021 07: 40
    SWIFT is private

    They lead to the fact that the collective does not have the right to influence the individual, especially some ...
    1. Monster_Fat Offline Monster_Fat
      Monster_Fat (What's the difference) April 30 2021 09: 24
      Disconnecting from SWIFT will not stop large trades, it will just slow them down. Another thing is that teletype confirmation of large trade transactions is one thing, and verification of electronic cards is quite another. In the case of electronic cards, verification will become impossible. Thus, when disconnecting from SWIFT, large trade contracts will not suffer, but it will become impossible to pay with electronic Visa, MasterCard- cards. That is, ordinary people from Russia will have to forget about using these cards in general, and thus, they will have to pay abroad only in cash, and within Russia switch to the Mir.
      1. Bulanov Offline Bulanov
        Bulanov (Vladimir) April 30 2021 10: 06
        That is, ordinary people from Russia will have to forget about using these cards in general, and thus, they will have to pay abroad only in cash,

        Ordinary citizens do not travel abroad - there is no money. Only about 10% of the population leaves. And those who leave when the Visa and MasterCard are turned off will take out less currency and bring less infections.
        1. Monster_Fat Offline Monster_Fat
          Monster_Fat (What's the difference) April 30 2021 10: 24
          Why will they take out less currency? They will take out cash and pay in cash, as before. Paying by card is just more convenient and nothing more. Well, in some countries there are also restrictions on the amount of payment in the cache, although the Italians have already said in this regard that they will remove any restrictions on payment in cash for Russians if Russia is disconnected from SWIFT.
          1. Bulanov Offline Bulanov
            Bulanov (Vladimir) April 30 2021 15: 02
            And from that less they will take out, that they themselves will go out less!
        2. Motorhead Offline Motorhead
          Motorhead (Alex) April 30 2021 15: 30
          Yeah, and they don't take a taxi to the bakery. We have already passed this, thank you not nada. Let the government hunchback with the deputies for the pieces of wood.
      2. GRF Offline GRF
        GRF April 30 2021 10: 09
        Karl Marx did not come up with the 300% capital gain himself.
        It was he who quoted Thomas Dunning as protesting against the slave trade in the United States.

        “Capital… avoids noise and abuse and has a fearful nature. This is true, but it is not the whole truth. Capital fears a lack of profit or too little profit, as nature fears emptiness. But once there is enough profit, capital becomes bold. Provide 10 percent, and capital agrees to any application, at 20 percent it becomes animated, at 50 percent it is positively ready to break its head, at 100 percent it violates all human laws, at 300 percent there is no crime that it would not risk, at least on pain of the gallows. If noise and abuse are profitable, capital will contribute to both. Proof: smuggling and slave trade. "

        These individuals, they will gnaw at any collective, even a deputy, and will not choke, so there will be no disconnection, they will rather raise the percentage for acquiring ...
  4. Jarilo Offline Jarilo
    Jarilo (Sergei) April 30 2021 11: 31
    Be afraid of your desires - they can come true.