zerohedge.com 07 Jun, 2021 16:15 am

Russia Mulls Ordering State Firms To Switch To Euro, "Preparing" For Possible Disconnect From SWIFT

Russia Mulls Ordering State Firms To Switch To Euro, "Preparing" For Possible Disconnect From SWIFT
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Additionally, Moscow said it's responding to calls for more sanctions by "preparing" for possible disconnect from international payment systems, namely SWIFT."Russia is preparing for additional sanctions, and serious work has been initiated into dealing with the country’s potential disconnection from international payment systems, Russian Deputy Foreign Minister Alexander Pankin said at parliamentary hearings in the State Duma.It is clear that it is impossible to prepare for everything, but already in the economic and financial departments, serious work has been launched related to the transfer of settlements into national currencies, the introduction of payment systems," Pankin said.However, a mere couple hours later the Finance Ministry walked back some of the most provocative earlier official statements: "Russia will rely on economic means to encourage companies to shift from dollar to euro and doesn’t plan any restrictions on use of U.

Bloomberg noted, "RIA Novosti and Tass withdrew earlier articles citing Finance Ministry official as saying the government plans directives to order state companies to make the shift.RIA and Tass said the official retracted his quotation.

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