10.3 C
Europe
Sunday, April 14, 2024

Orenburg Under Siege: Record Floodwaters Threaten Thousands

The situation has reached critical levels, with authorities racing against time to mitigate the devastation. As of the early hours of Friday, water levels measured a staggering 1,115 centimetres (36 feet 7 inches), according to the local administration

Russian Military Calls Up High Number of Reservists Amid Speculation of Ukraine Offensive

The demand for comprehensive employee data, including personal details and military eligibility criteria, has fueled speculations about the motives behind this sudden surge in reservist mobilization

Michael Martin strives to enhance sustainability goals with CBI

Basseterre, St. Kitts and Nevis: Michael Martin,...

“Russia may cut oil, gas supply to European countries if it disconnects from SWIFT,” warns senator

Entertainment"Russia may cut oil, gas supply to European countries if it disconnects from SWIFT," warns senator

On Tuesday, January 25, 2022, Nikolay Zhuravlev, Vice Speaker of the Federation Council, an upper house of the parliament of Russia, has warned of a huge setback to European countries if they disconnected Moscow from the SWIFT international payment system.

While telling about the setback, Zhuravlev asserted that the European countries would not be able to get the supply of gas, oil and metals from Moscow if Russia faced any type of inconvenience while making transactions internationally.

The warning has come after Britain Prime Minister Boris Johnson urged that the discussion between the governments of the United Kingdom and the United States on the matter of the possibility of disconnecting Russia from the SWIFT or international transaction if it allegedly tried to invade Ukraine.

While giving a befitting reply, Zhuravelv warned,” SWIFT is known as the settlement system which provides essential services to their users. Hence, if Moscow is disconnected from SWIFT and international transactions, then the country will not receive any foreign currency. So, with that impact, European countries would be the first countries who will not get any supply of goods such as oil, gas, metals and also other essential components of their imports. Do they really want these goods? I am really not sure”.

The senator further asserted that SWIFT is convenient and fast but not the only way to transfer money. He also explained that the joint discussion between the UK and the US is not enough to disconnect Russia from SWIFT. As to make these types of decisions, it requires a single decision of all countries participating in the system.

Zhuravlev further stressed,” SWIFT is a European company, also an association involving a lot of countries. A single decision of all participating countries is required to make any such kind of disconnection. The decisions of the United States and the United Kingdom is not enough. I’m not sure that the countries in Europe who are involved in trade with Russia are supporting the shutdown”.

 

Check out our other content

Check out other tags:

Most Popular Articles