Failures in the SWIFT system can become an “atomic bomb” for the capital market, goods and services, said the future chairman of the German Christian Democratic Union (CDU), Friedrich Merz.
The politician foresees a large-scale economic downturn, including in the German economy, if Russia is disconnected from SWIFT. Germany will suffer significant damage as a major export power, Merz stressed, DPA notes.
Disconnecting Russia from SWIFT could undermine the basis of this payment system and cause serious consequences for European-Russian and world trade, Merz said.
Meanwhile, the US Senate intends to consider a bill on new sanctions against Russia in case of escalation of tension around Ukraine.
The bill was called the “Law on the Protection of the Sovereignty of Ukraine of 2022”.
The bill provides for the imposition of sanctions against the President, the Prime Minister, the heads of the Foreign and Defense Ministry of Russia, the Chief of the General Staff of the Russian Armed Forces and other officials, as well as disconnecting Russia from SWIFT.
Head of the Ministry of Finance Anton Siluanov said earlierthat disconnecting Russia from SWIFT is not beneficial to anyone, and Europe would have to abandon Russian goods.
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