Gref called it extremely unlikely scenario of disconnection of Russia from SWIFT

MOSCOW, April 17. /TASS/. The head of Sberbank German Gref believes the unlikely scenario of off Russia from the international system of transmission of financial messages SWIFT. He said this at a press conference following the meeting of the Supervisory Board of the Bank.

“Never say never, but I’d like to hope that to such extreme degrees of geopolitics will not come. I think we should proceed from the most pragmatic scenario that has the greatest chance of implementation. Options such as turning off the SWIFT, yet are not brought to my attention, from the point of view of probability”, – he said.

SWIFT – international interbank transfer system information and make payments. It is connected to more than 11 thousand financial institutions in more than 200 countries.

The possibility of off Russia from SWIFT is discussed in 2014, when it was introduced the first anti-Russian sanctions in connection with the situation in Ukraine. Then, the European Parliament adopted a resolution which, in particular, has urged to exclude Russia from the system of international payments SWIFT. However, in SWIFT similar recommendations are found violating law and damaging the company.

“Let us be optimistic. The situation was not very simple, it is not the first nor the last in our life, but we hope that in the end primarily geopolitical stability, any point of its stabilization will be found, and such volatility is in no – one’s interests,” – said Gref.

Russian alternative to SWIFT

The Bank of Russia is considering the possibility of using the blockchain platform Mastercan (developed by the Association of FINTECH conjunction with the Central Bank of the Russian Federation and Russian banks) to create a single currency space in Eurasian economic Union (EEU). System of transmission of financial messages based on the technology of the distributed registry is intended for transmission of financial messages in SWIFT format.

Until the end of the year, the regulator expects to discuss options decision for establishing the use of Mastercare financial organizations of the countries – participants of the EAEC, reported in early April, first Deputy Chairman of the Central Bank Olga Skorobogatova.