Vladimir Putin’s declaration of war on Ukraine has revived calls to kick Russia out of Swift. The measure is seen as among the most severe that the US, EU and UK could take.
Denying Russian banks access to Swift is far from a given. It would, for instance, undermine Europe’s capacity to pay for Russian oil and gas, perhaps raising energy prices in the process. Imposing a ban would also require strong consensus. At present, it’s only the UK that really wants it and some EU members remain set against it.
As we’re not geopolitical experts, we really can’t tell you what the final call will be.
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