SWIFT logoMOSCOW, Jan 20The threat of disconnecting Russia from SWIFT has already become just a rhetorical device, but such a scenario is unprofitable for all participants in the international market, Pavel Shust, executive director of the Association of Electronic Money and Money Transfer Market Participants, told RIA Novosti. US congressmen propose to impose sanctions against entities providing financial messaging services Bank of Russia or contributing to it. Such a document was presented the day before by Republican Congressman Jim Banks, which follows from the information on the website of the congress, but the text has not yet been officially published. however, specific wording is not yet available. Disconnection from SWIFT has become, to a certain extent, a rhetorical device, and such steps seem very irrational — they will hit the global economy as a whole, «the expert notes. On the other hand, in his opinion, a permanent a return to this topic simply ultimately stimulates various countries to actively develop an alternative to SWIFT: and universality, connectivity and compatibility are important for the global economy, since any borders and potentially incompatible local standards increase costs for economic entities, the expert concluded. SWIFT is an international interbank transfer system information and make I payments, which is connected to more than 11 thousand of the largest organizations in almost all countries of the world. There are regular reports in the press that Russia could be cut off as one of the West's toughest sanctions. In response to the risks of possible disconnection of domestic banks from SWIFT, Russia has created its own Financial Messaging System.
