Dvorkovich about the likelihood of off Swift for Russia: it is aggression

© 2018 AFP / Belga/ Jacques Collet, the Headquarters of SWIFT in Brussels, Belgium. Archival photoDvorkovich about the likelihood of off Swift for Russia: it is aggression© 2018 AFP / Belga/ Jacques Collet

Russian banks will be able to work in case of disconnection of Russia from interbank SWIFT system, but the authorities hope that the US will not take this step — it will be «quite aggressive», said Deputy Prime Minister Arkady Dvorkovich.

«I’m not going to comment on the probability of some kind, it is not our decision. You can work without a SWIFT once SWIFT was not. Clearly, all this is a little slower and not as effective but can work,» — said Dvorkovich to journalists on the sidelines of the world economic forum in Davos.

«But it really is aggression and, of course, as said (Russian foreign Minister Sergei ed.) Lavrov and other colleagues, we have the possible responses of some. We hope that there will be aggression (by the US — ed.)», — said Deputy Prime Minister.

In March last year the Chairman of the Bank of Russia Elvira Nabiullina at a meeting with President Vladimir Putin stated that the Russian financial system is protected in case of disconnection from the SWIFT system and international payment systems, adding that in Russia the analogue of this system.

It is a «System of transmission of financial messages Bank of Russia» (SPVS), created as an alternative channel of interbank collaboration, with the aim of providing security and continuity in the provision of transmission services via electronic communications for the financial transactions.

SWIFT — international interbank transfer system information and make payments. It is connected to more than 10.8 thousand largest organisations in more than 200 countries. The system in October 2014, said that under pressure from several States, insisting on its accession to the sanctions against Russia, however, does not intend to give.

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