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Cutting Russia off from SWIFT a "matter of days" -euro zone central banker

Explainer-A SWIFT primer as West moves to freeze Russia out of international payments
Explainer-A SWIFT primer as West moves to freeze Russia out of international payments Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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PARIS - A decision to cut Russia off from the global SWIFT payment system will be taken in a matter of days, the governor of a central bank within the euro zone told Reuters on Saturday.

"SWIFT is just a matter of time, very short time, days," the central bank governor, who asked not to be named, said.

"Is it sufficient? No. Is it necessary? Absolutely. Sanctions only make sense if there are costs for both sides and this will be costly," the central banker added.

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