Will Biden Regime Hardliners Block Russia from Using SWIFT?

by Stephen Lendman (stephenlendman.org - Home - Stephen Lendman)

As part of escalating US war on nonbelligerent Russia by other means, Biden regime hardliners in charge of its war on humanity at home and abroad may block Russian banks from using the Society for Worldwide Interbank Financial Telecommunications (SWIFT) transactions system.

Owned and operated by its member financial institutions, it's used by most world community countries for their banks to conduct financial transactions among them.

According to Russia's Foreign Ministry Economic Cooperation Department director Dmitry Birichevsky:

"It's no secret that there are threats, primarily from the US, to disconnect Russia from the SWIFT system as part of Washington's "spiral of sanctions."

Russian Foreign Ministry spokeswoman Maria Zakarova said Moscow is taking steps to minimize potential damage if disconnected from SWIFT, including use of "Europe's SEPA, Iran's SEPAM, and China's CUP and CIPS."

Moscow is also "exploring opportunities of the latest cyber-technologies and possibility of tapping their potential to enhance the stability and independence of the national financial system and payment means." 

"There is a clear understanding that digital means of payment may eventually provide the basis for an upgraded international financial system and trans-border settlements."

On Monday, Kremlin spokesman Dmitry Peskov said "(w)e cannot rule out any of the potential threats" from the US-dominated hostile West, adding: 

"These actions are unreasonable and unpredictable. Therefore, of course, this situation obliges us to be on the alert."

In April, the Russophobic European Parliament passed a nonbinding resolution to sanction Russia's Nord Stream 2 gas pipeline to Germany, its Rosatom nuclear power company, nonexistent "Russian oligarchs," and to disconnect Russia from SWIFT for an "invasion of Ukraine" if occurs.

On Monday, Portuguese Foreign Minister Augusto Santos Silva said "(a)ny decision on the part of the European Union must be surrounded by appropriate rules."

"(I)f any decision is made…it will first be widely discussed legally in the European Union."

Last month, Bank of Russia's First Deputy Governor Olga Skoroboratova said while she believes they'll be no disconnect from SWIFT, Russian international financial transactions will be transferred to the Bank of Russia's Financial Messaging System if occus.

Sergey Lavrov said an alternative system to SWIFT exists for Russia, adding:

The Kremlin and Russia's Central. Bank should do everything necessary to guarantee "complete independence and safeguard against damage that someone may try to additionally inflict upon us."

Calls from European countries and the US are coming from "the most radical representatives of the Western world, who are driven exclusively by Russophobic sentiments and are trying, with reason or, even more often, for no reason at all, to intensify, in every way, the sanctions against our country."

"We are not interested in destroying the mechanisms underlying the functioning of the international currency system and, generally, the international economic system." 

"We believe that this will harm all parties to multilateral communication, without exception." 

"(S)ince threats like this are being made, we have to draw some conclusions."

"(R)elevant agencies in our government will continue to take all necessary measures to safeguard Russia's and our partners' interests, regardless of how the situation evolves."

Separately, Lavrov slammed hostile US/Western rhetoric and actions toward Russia, including the false accusation of a "Russian threat" that doesn't exist.

The same goes for falsely calling Russia an "adversary (that spreads) "malicious influence all over the world."

The Kremlin is under no illusion of a US-led Western shift toward improved relations with Moscow any time soon or if ever for many years ahead.

Since Biden replaced Trump in January by brazen election rigging, US relations with Russia became more confrontational.

It's because the US and its European colonies "have malicious intentions regarding Russia," said Lavrov.

Moscow's concrete proposals for improved bilateral relations have been on the table for years.

They're ignored, Lavrov explained.

VISIT MY WEBSITE: stephenlendman.org (Home - Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.

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