Eurozone to Disconnect Russia from SWIFT Imminent After Hungary Vote

An unnamed head of the central bank of one of the eurozone countries has claimed that the decision to disconnect Russia from the global payment system SWIFT will be made within a few days just after Hungary announced its support for the sanction.

“SWIFT is only a matter of time, a very short time, a few days. Is this enough? No. Is it necessary? Absolutely. Sanctions only make sense if there are costs for both sides, and it will cost a lot,” said the unnamed banking Head.

Ukrainian President Volodymyr Zelensky earlier urged Germany and Hungary to support ejecting Russia from the SWIFT banking system in response to the invasion.

Hungary later confirmed backing the measure while no other Eurozone country aside from Germany opposed the measure.

“Today I spoke again with the Prime Minister of Hungary, V. Orbán. And he once again assured me of his support for far-reaching sanctions against Russia. Including about blocking the SWIFT system,” confirmed Polish PM Mateusz Morawiecki.

According to Germany, cutting off Russia should not be placed on the table immediately and should be reserved along with other future actions.

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