SWIFT Will Defy US If Pressured to Cut Russia Off CEO Says

Read more on this subject: Sanctions
News Story Source: russia-insider.com by Dmitry Sudakov
The SWIFT system, which ensures the transfer of financial messages between all banks of the world, will not disconnect Russia despite Western sanctions. In the political conflict between Russia and the West, SWIFT takes a neutral position, SWIFT CEO Gottfried Leibbrandt said.

The SWIFT system will thus stay neutral in the conflict between Russia and the West and will not disconnect the country from the system of financial payments because of the sanctions, CEO Gottfried Leibbrandt said at the SWIFT business forum in Moscow, RBC reports.

"The question of disconnecting Russia from the SWIFT financial reporting system is not worth it, and our position remains unchanged: we are a neutral party that provides for the interconnection of users and whose purpose is to service the global financial industry," Mr. Leibbrandt said.

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