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Excluding Russia from Swift would have unwanted repercussions, as explained accurately in the Economist:Sovereign independent Brexit Britain trying to exclude Russia from the 'swift' banking system, would stop money transfers in and out of Russia and make oil/gas exports difficult.
Opposed by EU (mainly Germany), who rely on Russian trade.
One obvious move would be to cut Russian banks’ access to swift, the messaging network used by 11,000 banks in 200 countries to make cross-border payments. But even if the politically neutral co-operative of banks could be swayed to do so, would excluding Russia from swift actually be worthwhile?
There are three reasons to think not.
https://www.economist.com/the-econo...luctant-to-deny-russian-banks-access-to-swift
There are three reasons to think not.
https://www.economist.com/the-econo...luctant-to-deny-russian-banks-access-to-swift