WARSAW – Excluding Russia from the Swift banking system would be a measure of last resort if the crisis in Ukraine escalates, the British and Polish foreign ministers said Friday.”When it comes to sanctions, Swift is the nuclear weapon. It is the last resort and we are all aware of that,” Polish Foreign Minister Grzegorz Schetyna said at a joint press conference in Warsaw with British counterpart Philip Hammond.Russia last month said it would retaliate strongly if it were to be cut off from Swift, the global financial industry’s secure messaging system to facilitate transactions.”To be clear, this would be …read more
Source: AsiaOne
