You are currently viewing In Germany, Russia’s disconnection from SWIFT was compared with an “atomic bomb” for the market

Limiting Russia’s access to the international interbank SWIFT system will have an effect comparable to an “atomic bomb” for the money market. This opinion was expressed by the future leader of the German Christian Democratic Union (CDU) Friedrich Merz, reports TASS.

The politician said that such a decision would harm not only Russia, but also Germany as a major export power. “I foresee a massive economic downturn for our economies too if something like this happens,” he concluded. Merz predicted that Moscow’s disconnection from SWIFT would undermine the foundation of this international payment system.

Earlier, the head of the Eastern Committee of the German Economy, Oliver Hermes, said that Moscow’s disconnection from SWIFT would create significant problems for the economies of Western countries. He also noted that if Russia is cut off from the international payment system, then Moscow will strengthen its economic ties with Beijing.

SWIFT is an international organization that controls the largest interbank information exchange system. The service allows banks from all over the world to quickly and securely transfer money to each other. The Kremlin called reports of US plans to disconnect the Russian Federation from SWIFT information hysteria. Some Western countries also find it problematic to implement such a measure.

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