Belarus Is To Be Ready For Russian Banks’ Potential Disconnection From SWIFT

• 12.04.2018, 7:58

New US sanctions may paralyze the Belarusian financial system.

Reserve scenarios for business entities and financial infrastructure should be prepared in Belarus in the event of work in the face of the mobilization economy and, in particular, the disconnection of Russian banks from the SWIFT system. It has been stated by chairman of the Minsk Capital Union of Entrepreneurs and Employers Uladzimir Karahin.

"It is necessary to be ready to work in the conditions of the mobilization economy, disconnection of Russian banks from the Swift system, restriction or ban on the supply of components for machinery and automotive to our neighbors and partners, enlargement of the sanctions lists and exercising them over the whole supply chain. I hope that the Security Council is monitoring the situation. But this is not enough – we need reserve scenarios for economic entities and financial infrastructure," – Karahin wrote on Facebook.

In that way he commented on the growing tensions in the relations between Russia and the West in connection with a new wave of anti-Russian sanctions.

SWIFT is the international inter-bank system for transferring information and making payments, it considered the possibility of disconnecting Russia during the first wave of anti-Russian sanctions in 2014.