While the West may try to slap Russia with more sanctions, the SWIFT banking payment system will try to stay out of political crossfire, economist Max Fraad Wolff told RT, adding that if it eventually gets weaponized, an alternative will emerge.
RT: Do you think Russia will be blocked from SWIFT, or is this just an idle threat?
Max Fraad Wolff: So far it seems like it is mostly talk. But this has been threatened. We have seen it come up a few times. The rumor mill suggests it came up around comments by VTB Bank and the folks associated with that large Russian bank in and around Davos. Obviously the Russian sanctions were a major conversational piece in Davos most recently. And we have seen the escalation of sanctions.