Kick Russia Out Of SWIFT, UK Demands; But Beware The Retaliation…

UK Prime Minister David Cameron came out swinging this morning; not only at ISIS but in calling for European leaders to block Russia from the SWIFT banking transaction system. European leaders have already (via unnamed sources) denied any actual new sanctions will take place (though they will be discussing them at the NATO Summit) but – as we have noted previously – this is yet another unintended consequence-driven nail in the coffin of USD hegemony…
Bloomberg reports that the U. K. Said to Press EU to Block Russia From Banking Network
The U. K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said. The Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, is one of Russia’s main connections to the international financial system. Prime Minister David Cameron’s government plans to put the topic on the agenda for a meeting of EU leaders in Brussels Aug. 30, according to the official, who asked not to be named because the discussions are private.
This has consequences…

This post was published at Zero Hedge on 08/29/2014.

 

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