According to a Russian News Agency, on the 14th local time, Russian Deputy Foreign Minister Pan Jin said in an interview with the media that if Russia is excluded from the SWIFT settlement system, Russia will use other systems, but at present, Russia does not refuse to use the SWIFT system.
Previously, Pankin said in an interview that Russia would not rule out studying alternatives to the SWIFT settlement system based on new technologies.
SWIFT is short for the Association of Worldwide Banking Financial Telecommunication. The organization operates a world-class financial message network through which inter-bank exchanges messages with interbanks to complete financial transactions. There are reports that Russia may be forced to leave the system under Western sanctions.
