If Russia is cut out of SWIFT they will just use their own system, minor inconvenience at first but long term works out well for them. A few years ago the US s

If Russia is cut out of SWIFT they will just use their own system, minor inconvenience at first but long term works out well for them. A few years ago the US said they were going to forbid oil speculation and force people to accept delivery of all trades. They backtracked on that immediately when they found out Dubai was rushing to fill the gap by opening their own commodity exchange that would allow speculation. Likewise I think the US and even the EU might talk tough about ejecting Russia from SWIFT, but won't follow through out of fear of losing control to a Russia and/or China controlled system. A lot of western countries use SWIFT to spy on each other. The US would supposedly monitor SWIFT traffic looking for transfers to Airbus and feed that info to Boeing so they could try to undercut them on price.