UK PM Johnson pushing very hard for Russia to be kicked out of SWIFT – FT

UK PM Boris Johnson is pushing very hard for Russia to be kicked out of the SWIFT international payments system, the FT reported on Thursday. The UK paper said that such a move would deal a heavy blow to Russian banks and the country’s ability to conduct international trade. The FT article said that the German Chancellor Olaf Scholz had on Thursday warned Johnson that his country would not support such a move and nor would the EU. Shortly after the FT report was published, Ukraine’s foreign minister was on social media calling for Russia to be kicked out of SWIFT. 

Market Reaction

Markets remain jittery but the latest headlines do not appear to have provoked a reaction.