If Russia is disconnected from the international banking system SWIFT, then the Western countries will suffer from this in the first place. Germany is convinced of this.
The head of the Eastern Committee of the German Economy, Oliver Hermes, spoke in an interview with WirtschaftsWoche about the dangers that such a decision poses. This is reported by the publication “Ukraine.ru”.
He noted that if the Russian Federation was really disconnected from SWIFT, then significant problems would begin on the market. All financial institutions connected with contacts with Russia would suffer significant losses. We’re talking about billions.
“Western banks and credit institutions will lose billions, and current business contacts will be so complicated that many transactions will lose their meaning,” Hermes said.
In addition, he fears that the disconnection from SWIFT will stimulate closer development of relations between Russia and China. And for the West, the rapprochement between Beijing and Moscow is the worst dream, which they are unsuccessfully trying to prevent from coming true.