If Russia is disconnected from SWIFT, financial markets will be hit

The future head of the CDU, Friedrich Merz, believes that the possible disconnection of Russia from SWIFT will hit the economies of other states and threaten with consequences for international trade.

If Russia is disconnected from SWIFT, financial markets will be hit

Earlier, a representative of the US Democratic Party, Robert Menendez, submitted to the US Senate a draft law on anti-Russian sanctions, which involves restricting Russia’s access to the SWIFT international interbank system, as well as personal sanctions against top officials of the Russian state.

“I foresee a massive economic downturn for our economies if something like this happens. This will also affect Russia. But it would also cause significant damage to us as a major export power,” Merz said.

The chairman of the influential German Christian Democratic Union noted that a mere doubt about the reliability of the SWIFT system “can become an atomic bomb for the capital market, as well as goods and services.” The exclusion of Moscow from SWIFT could undermine the foundation of this international payment system.

According to Friedrich Merz, the serious consequences of Russia’s disconnection from the payment system will affect the entire world trade.