News & Analysis.
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Can Russia survive if cut off from SWIFT?
Bulletin: Since posting this, NSS received a response from Moneypolo to our inquiry: support@moneypolo.com Reply| Yesterday, 9:06 AM YouDear Sir, Thank you for your e-mail and interest in our services. Yes, you can transfer funds to Moscow in euro. At first you have to open an account with us, complete verification procedure and credit your account. Here you can find detailed information, how you can do it: https://support.moneypolo.com/accounts/load-an-account After that you can withdraw funds, for example you can make cash money transfer in EUR to Moscow, so your wife can collect these funds within 15 minutes. Here you can calculate approximate commission fee and check the branches, where funds can be collected: https://moneypolo.com/cz-en/products/cash-transfers/ Please do not hesitate to contact us again if you require further information. Thank you. Kind regards, MoneyPolo Customer Support Team Recently, the Russian Tembpank was cut off from the SWIFT system, apparently as punishment for effecting payments to Syria and Iran. This was another example of the US punishing a foreign entity under a law that does not exist in that entity’s country. It is, needless to say, illegal, but of course, the US uses the excuse that it is “exceptional.” This cutoff raises the question, among analysts of economics and foreign strategies, of whether this cutoff of one bank was not a shot across the bow to Moscow warning that the entire country could be cut off, causing a calamity for the Russian people. This possibility had already been raised by the UK some years ago and is one of the options available to the US. So what can Russia do to save its economy from a US-made disaster? Our online searches found a service originally intended to be used within Russia for remote payment in rubles and other currencies. The following sites indicate that it may also be possible to send money to Russia from the West (what the Russians call the Far Abroad). https://www.contact-sys.com/contactaccount support@moneypolo.com https://www.contact-sys.com/en/faq#this https://www.contact-sys.com/en/where/list/0/list/276/2326/ From one of the above-linked sites: CONTACT system QUOTE: “Transfers can be made in Russian rubles (RUB) within the territory of the Russian Federation, in US dollars (USD) and euro (EUR) to the countries of the Far Abroad and in all three currencies to CIS countries. That said, a number of Receiving-Participants may render the payment of a transfer sent in one of the aforementioned currencies in their national currency in connection with the requirements of local law or as an additional service rendered at the request of the client.” Far Abroad: All countries outside the former Soviet Union We went deeper and found that there are related services in Europe that apparently can be used to transfer euros, for example, to Russia. https://moneypolo.com/int-en/support/contact/ Example: UK Mayzus Financial Services Ltd. Riverbank House 1 Putney Bridge Approach London SW6 3BQ United Kingdom Registered address is 869 High Road, London, N12 8QA, UK Tel: +44 (0) 203 542 1636 Fax: +44 (0) 203 397 4818 Support: support@moneypolo.com E-mail: info@moneypolo.com Example: Berlin address for pick-up MONEYPOLO (MAYZUS FINANCIAL SERVICES) Address: Jan-petersen-str. 14 12679 berlin Phone: (+ 49) 30 8857660 Opening hours:: mo-fr 10:00-18:00; sa 10:00-14:00;, Weekend: su closed; Services CONTACT for sending: Cash transfer to individuals to RUR, USD, EUR Payment currency: EUR; CONTACT system QUOTE: “Transfers can be made in Russian rubles (RUB) within the territory of the Russian Federation, in US dollars (USD) and euro (EUR) to the countries of the Far Abroad and in all three currencies to CIS countries. That said, a number of Receiving-Participants may render the payment of a transfer sent in one of the aforementioned currencies in their national currency in connection with the requirements of local law or as an additional service rendered at the request of the client.” Far Abroad: All countries outside the former Soviet Union We emailed the agencies in Germany and the UK to make sure that payments could be sent to Russia but we received no response. Perhaps the agency does not want the US to know what it is up to. At any rate, we know that Europe is not fully on board with US plans to sabotage the Russian economy. Nonetheless, all of the above indicates that, if Europe were no longer able to use the SWIFT system to send payment for, say, gas deliveries via pipeline to a Russian company such as Gazprom, an alternate system is in place.
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