EU has been seriously considering the option of cutting off Russia from SWIFT. Minister of Foreign Affairs of Ukraine Pavlo Klimkin announced.
"I spent one day in Davos, met with many European leaders after the meeting in Berlin. They are all predicting the fall of 6-8% of GDP for Russia. And if Russia is cut off from SWIFT, which is heavily being discussed now, Russian economy will collapse," – announced Minister Klimkin for a Ukrainian TV channel.
The European Parliament's resolution of 18 September considered an option of disabling nuclear programs of international cooperation with Russia as well as cutting off from SWIFT payment systems. But, then, this issue was not on the agenda. The EU saw it as excessive sanctions against Russia.
Recent developments in eastern Ukraine, including the shelling of Mariupol, caused new discussion of Russian aggression and the option to disable the SWIFT international payment systems in Russia.
A Russian banker in Davos warned the West that Moscow would send Western ambassadors out of Russia if the SWIFT is disabled.