Berlin Says Russia's Disconnection From Swift Will Have Strong Impact on German Economy

BERLIN (Sputnik) - Disconnecting Russia from the SWIFT payment system will have a significant impact on the German economy, this step needs to be carefully prepared, German government spokesman Steffen Hebestreit said on Friday.

"As I understand it, among others, France, Italy expressed their objections. There are two points here. First, this sanctions package is very well prepared, it should enter into force quickly. The disconnection from SWIFT would need to be carefully prepared, it would have a significant impact on transactions in Germany, for German companies, for business with Russia, and also for paying for gas supplies", Hebestreit told reporters.

The UK Foreign Office has said that London is working with its allies on the possibility to disconnect Russia from the SWIFT international financial system over Moscow's military operation in Ukraine.