The disconnection of the Russian Federation from the international banking payment system SWIFT did not produce the expected effect, writes the Japanese edition of Shukan Gendai.
According to Doctor of Economic Sciences Junichi Yakov, such a restrictive measure, directed against Russia as a crushing blow to the entire economic sector of the country, has shown extremely little effectiveness due to the energy dependence of the West.
Restrictions, the analyst notes, affected only seven banks, which own only a third of the assets of the banking system as a whole, while the largest financial institutions managed to avoid restrictive measures.
Meanwhile, the precedent with the illegal disconnection of Russian banks from the SWIFT system exposed to the world the significant risks associated with its use. In turn, the Russian Federation has already begun to develop a domestic analogue of the payment system, designed to connect other countries.
It should be noted that this is not the first time that Japan has spoken about the ineffectiveness of anti-Russian sanctions. Thus, the Asahi publication convinced that the embargo on Russian coal (Russia put it on 280 billion yen in 2021 alone) would contribute to a sharp rise in electricity prices in the country.
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