Date: 11 months ago   Category: Economy

The alternative system for banks in the EU won't replace SWIFT, the expert - RIA Novosti, has said 8/23/2018

PARIS, 23 Aug — RIA Novosti. Creation in the European Union of an alternative to the international system of information transfer about payments of SWIFT is possible, but such system completely won't be able to replace her, the economist and the teacher of the Parisian Sorbonne Chabal the expert Saba has told RIA Novosti. © AFP 2018/Jaques Collet In Germany have suggested to create an analog of SWIFTGLAVA of the Ministry of Foreign Affairs of Germany Heiko Maas on Tuesday has said that the EU needs to create an independent analog of SWIFT to protect the companies from sanctions of the USA against Iran. As the head of the State Duma Committee on the financial market Anatoly Aksakov has explained RIA Novosti, desire of the EU create the analog SWIFT can be dictated by the fact that they want to transfer calculations with other countries to euro. It can achieve, having only created own infrastructure which will allow not to display these financial messages in the USA as now the lion's share of these calculations goes in dollars, and all information through the USA. "Creation of alternative system is possible, but it won't replace SWIFT because the last remains the main, and all central banks in the world except for Russia, keep the reserves in dollars" — Chabal the expert Saba has said. He has added that the offer of Germany is the serious political statement and attempt of pressure upon the USA in anticipation of elections to the American congress in November. According to him, the offer to create an alternative of SWIFT will allow Europeans to do operations in euro or other currencies without the knowledge of the USA, but a problem that 70% of business in the world are done in dollars. "It is the card which Germany wants to play in negotiations with the USA …. The offer of Germany is a considerable political position and represents a call of the USA" — the economist has noticed. According to him, at Europeans it is impossible to protect the interests in Iran so far. "Europeans can't protect the interests in Iran in the face of the American sanctions. If Europe could, then the large European companies like Total wouldn't leave Iran" — the expert Saba has told, having noted that emergence of the European alternative of SWIFT would help to work with Iran only to the small companies from the EU which have no offices in the USA. The USA this year left the agreement of 2015 on the nuclear program of Iran and has announced introduction of the sanctions against Tehran frozen earlier. The second package of the American sanctions against Iran will come into force on November 5, they will mention the Iranian energy sector, including transactions with oil and also transactions of the foreign financial organizations with the Central Bank of Iran.



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