Arab Press

بالشعب و للشعب
Saturday, Jul 05, 2025

West would ‘screw itself’ by cutting Russia off from SWIFT – Moscow

West would ‘screw itself’ by cutting Russia off from SWIFT – Moscow

The effects of shutting the country out of the banking network would be felt throughout Europe, Moscow says
If the West follows through with its threats to shut Moscow out of the SWIFT financial transaction system, other states will feel the consequences, Russia’s finance minister has cautioned.

Speaking as part of an interview with Rossiya 24 TV channel on Thursday, Anton Siluanov warned, “who benefits from the disconnection from SWIFT? No one.”

“They only screw themselves over, as they say,” the minister said, pointing out that “Russia is a participant in the global market.”

According to Siluanov, such a move would hinder European companies that actively trade with Moscow.

“What will happen to European consumers of hydrocarbons [if SWIFT is cut off in Russia]? How will they pay us? Or will they refuse our exports? No, of course not. Will they have to settle the payment? Yes,” he explained.

His remarks come amid threats from the West to punish Russia if its troops were to invade Ukraine. On Tuesday, the head of the ministry’s economic cooperation department, Dmitry Birichevsky, cast doubts on the prospect of Moscow being disconnected from SWIFT due to the fact the system is run by an international private company, headquartered in Belgium, and there is no clear mechanism for American officials to persuade it to do so.

The European Parliament adopted a resolution on December 16, which said any new sanctions package should entail “the exclusion of Russia from the SWIFT payment system,” as well as the targeting of vital sectors of the country’s economy.

Earlier this month, US Under Secretary of State Victoria Nuland said that Washington, alongside a number of its partners in Western Europe, is mulling isolating Moscow from the global financial system in the event of a full-blown offensive against its neighbor.

Just a day before Nuland's threat, US news agency Bloomberg published a report which suggested that Washington could target major Russian banks and could even disconnect Moscow from SWIFT. The Kremlin, however, has repeatedly rejected the accusations that it is planning an incursion into Ukraine.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
×