Yes. This whole thing is just once more revealing the cluelessness of our political classes. SWIFT is just a messaging system with verified identities, some schemas and a bit of business logic on the side. It exists because wire transfers predate the internet, not because it's clever or actually critical infrastructure.
Disconnect Russian banks from SWIFT? OK, submit your SWIFT formatted messages to banks via this helpful REST API instead. The outcome is the same.
The politicians know what it means. They need 'something' they can do publicly.
Russian Oligarchs have their massive yachts in ports in Europe. They are talking about 'no safe haven' but it's BS.
If they want to do something, they can go after those ships. That said, many of them hold dual citizenship which makes legal problems.
Also, the corrupt oligarchs serve as a conduit for money fuelling out of Russia to the West, I mean, they are kind of doing the West a favour to Russia's detriment.
Europeans need to come together right now and pledge to absolve themselves of Russian Oil. It means major investment in Nuclear.
Germany also has to start assuming responsibilities of leadership. They are benefiting the most from the Euro, and frankly European integration as they are sucking jobs and talented workers in form Spain, Italy etc. they have to share the burden of things like military leadership.
Poland right now is supporting Ukraine in all sorts of ways, it's amazing to see, and they are not a rich country.
Unlike the wave of migrants in 2015, these neighbouring refugees are being welcomed.
It exists because banks need a way to know that money is coming to them, it more or less balances books. You are right, a Swiss bank could just call a Russian bank and say “hey we are sending you this money”, but A it would be a pain in the ass, and B, they could risk getting in trouble, but they are Swiss so they can do what they want hahaha.
Disconnect Russian banks from SWIFT? OK, submit your SWIFT formatted messages to banks via this helpful REST API instead. The outcome is the same.