Disconnecting From SWIFT? No, We Did Not Hear About It

... positions of the parties. Second, the radical proposals of the European Parliament are unlikely to find a response in the European Commission and the EU Council. The head of EU diplomacy, Josep Borrell, has already noted that decisions on restrictions on SWIFT and Nord Stream 2 are not within the competence of the European Union. It is obvious that disconnecting Russia from SWIFT will lead to colossal losses for both Russian business and EU companies doing business with Russia. The refusal to purchase Russian energy resources will also lead to significant costs....