Without access to SWIFT, Russia and its financial institutions would be effectively cut off from most international business transactions
No, not true.
It would make doing international business more difficult, as banks need to be contacted 1:1 for correspondent status.
Putin has his own system. So, kicking them out of swift will swiftly be followed by States that will sign up with Russia' s alternative for doing business. That would create a rival system. Not good. So, no swift divorcees.
Without access to SWIFT, Russia and its financial institutions would be effectively cut off from most international business transactions
No, not true.
It would make doing international business more difficult, as banks need to be contacted 1:1 for correspondent status.
Putin has his own system. So, kicking them out of swift will swiftly be followed by States that will sign up with Russia' s alternative for doing business. That would create a rival system. Not good. So, no swift divorcees.