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According to Friedrich Merz, the exclusion of Moscow “would break the backbone of the payment system.”
Merz warned against excluding Russia from the Swift system / photo: GLOBAL LOOK PRESS
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Christian Democratic Union leader candidate Friedrich Merz, who is likely to become the new head of the party, warned against being expelled Russia from the international bank payment system Swift.
He is quoted by The daily mirror.
“The denial of access to Swift could be an atomic bomb for capital markets, as well as for relations between goods and services,” he said. “We have to leave Swift intact.”
Read alsoKuleba on the purchase of weapons in Germany: Ukraine is in discussions with some members of the Alliance“If something like this happened, I would see serious economic setbacks for our economies. It would hit Russia. But we will inflict significant damage on ourselves as a strong export country,” Merz warned.
He noted that he fears serious consequences not only for European-Russian trade in services and goods, but also for world trade.
“Swift is a system for processing international monetary transactions for goods and services. The exclusion of Moscow would essentially break the backbone of this international payment system,” he said.
Recall that earlier the head of the Russian bank “VTB” Andrey Kostin declaredthat Russia will survive the disconnection from the SWIFT payment system in the event of a new aggression against Ukraine.
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