U.S., EU Drop Idea of Removing Russia From Swift: Report
- West sees risk of destabilizing markets, Handelsblatt says
- Russian attack on Ukraine would prompt targeted penalties
Russian President Vladimir Putin
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The U.S. and the European Union are no longer considering the option of unplugging Russia from the Swift international payments system if it attacks Ukraine, Handelsblatt reported, citing unidentified people familiar with the issue.
Nations involved believe that excluding Russia could destabilize financial markets in the short term and would help develop an alternative, non-Western dominated infrastructure, the German newspaper said.