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RT. The Expert: SWIFT is archaic and will soon give way to modern digital technologies


The expert in economics Patrick Young is confident that ‘SWIFT is the analogue system, and it does not stand up to the modern digital age we live in‘.

RIA Novosti. Dmitry Medvedev: ‘Russia will give a tangible response if SWIFT sanctions are imposed’


Response of Russia if SWIFT sanctions are imposed will be ‘unrestricted’, said Dmitry Medvedev, Russian PM, on Tuesday.

RBC. Reuters revealed details of the new EU sanctions against Russia


New economic sanctions against Russia may not be adopted by EU leaders until late March, reports Reuters referring to its sources from the EU structures.

‘Kommersant’: Ban Seekers. The US and the EU consider introducing new round of sanctions against Russia


Relations between Russia and the West are under test once again, the biggest one since last summer, when after escalation of the Ukraine conflict the US and the EU imposed sectoral sanctions on Russia.

Countries of the Customs Union discuss possible creation of the SWIFT counterpart


Integration of national payment systems doesn’t boil down to a mere unification of the bank payment card systems Bankers calling on the Central Bank of Russia to set up an independent clearing system


CyberPlat has developed its own financial message transfer platform CyberFT – a counterpart of the international SWIFT – which is proposed to be launched along with a new Russian clearing system.

Central Bank of Russia is not convinced by SWIFT


Russia will continue to set up its own interbank settlement system

Members of the National Payment Council propose to set up SWIFT substitute based on the Central Bank of Russia


Threats to block Russian banks from the system of interbank transfers SWIFT have been circulating for weeks. Last week European Parliament proposed EU countries to consider excluding Russia from the system.

US senators insist on cutting Russian banks off the SWIFT system


Politicians believe that even a partial disconnection from SWIFT may have very dramatic consequences for Russia’s economy.

RBC daily: banks are testing their systems in case of disconnection from SWIFT


Ministry of Finance of the Russian Federation intends to make international system of financial message exchange SWIFT set up a subsidiary in Russia. Experts believe that developments may follow the scenario of Visa and MasterCard. According to RBC, largest banks of Russia have already started testing their systems of financial information exchange not waiting for the decision of authorities.