Bloomberg says Russian cutoff from SWIFT is ruled out

The US and EU don't consider it possible to bar Russia from the SWIFT international banking-payment system as it could cause serious damage to western companies, the Bloomberg agency reported today with reference to sources familiar with the situation.

Talk of disconnecting Russia from SWIFT started last year. The issue has been considered as a possible option of extending sanctions against Russia. The proposal was made by UK Prime Minister David Cameron.

SWIFT representatives said they were not going to disconnect Russia from their system. SWIFT may disconnect Russia only if a relevant decision is made by the EU authorities.

The system comprises over 9,000 banks from 209 countries.