According to Bloomberg, the UK wants the EU to disconnect Russia from the banking network SWIFT (interbank system interaction, providing for the transfer of financial messaging). David Cameron, British Prime Minister, is planning to raise the issue at a meeting of European leaders in Brussels on Saturday, the agency reports.
In case of disconnection from SWIFT, Russian banks will lose the opportunity to manage their correspondent accounts abroad, as well as conduct in-country payments. "Disconnecting from a bank SWIFT network will create difficulties for the entire financial market, - says Alma Obaeva. - First of all, there is a problem for bilateral bank messages in payments, both within Russia and abroad. Lack of posts in the payment actually means that the bank can neither send nor receive money".
Particularly foreign exchange payments, all the information on which is transmitted via SWIFT, will affected. For ruble pdatezhey banks use the information system of the Bank of Russia. "All the banks in the agreements with the SWIFT system has entries describing the action in case of a power system - says a source close to SWIFT. - In many cases, this fax in case of power SWIFT banks will be able to use the fax communication. Disconnecting SWIFT essentially disables mobile communication: people will find how to communicate, include landlines, but it will not be pleasant".