None of the Russian financial organizations have been able to regain access to the international financial information transfer system SWIFT after being disconnected from it due to Russia's armed aggression against Ukraine. This was reported by the Foreign Intelligence Service of Ukraine, writes UNN.
After the largest Russian banks were disconnected from SWIFT in 2022, the volume of financial traffic from Russia fell tenfold, and internal operations through the system almost disappeared.
Since February 2022, 93 Russian financial organizations have been disconnected from SWIFT. None of them have been able to regain access.
In 2022, the decline in Russian traffic in the SWIFT payment system was 55.5%, and the number of messages sent by Russian users decreased to 70 million messages. In 2023, Russian traffic fell by another 65.7% to 24 million. In 2024 – by 25.3% to 18 million, and in the first half of 2025 – by another 6.6% to 8 million messages.
Despite the Kremlin's statements about "stability," Russian businesses are forced to look for workarounds: from cryptocurrencies and cash to netting and foreign accounts. This indicates that Western sanctions are hitting Russia's financial system, making it increasingly isolated from global markets.