Russia is ready to disconnect from SWIFT, the Central Bank

Россия готова к отключению от SWIFT - Центробанк

The banking system will have its own system, say in Russia.

In the case of disconnection of the country from SWIFT or other restrictions on the banking system of Russia will be able to work. This was stated by the Chairman of the Central Bank of Russia Elvira Nabiullina.

“We also modified its payment system, and if something happens in the country all operations in SWIFT format will work, we’ve created this analog” she said.

As stated in the Central Bank, sanctions against Russia revealed the weaknesses of the banking infrastructure.

“It is now more than 90 percent of ATMs and payment terminals ready to accept our own card “the World”,” – said Nabiullina.

Recall that the first suggestion to turn off Russia from SWIFT was nominated in the European Parliament resolution of 18 September 2014. Also, the EU calls to disconnect Russia from SWIFT payment system would appear in 2015.

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