“Yet again discussions have started in limiting the so-called SWIFT payment system. We’ll wait and see what happens. Of course, if these decisions are made, I would like to note that our economic reaction as with any other reaction will be unlimited,” Medvedev said during a meeting.
In September 2014, the European Parliament urged EU member states to consider excluding Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, which provides the infrastructure for $6 billion of interbank operations daily.
In response, the Russia's Central Bank said the country might introduce alternative channels of interbank communications to replace SWIFT.
In December, the bank announced the launch of a service that allowed credit institutions in Russia to make transactions in the SWIFT format without any restrictions.
