I say let the EU cut Russia out of SWIFT. They'll have to buy Russian gas in Euros or Rubles after that. Unlike USD or Euros, gas keeps your lights, heaters, and factories ON.
I forsee the US attempting to step in to supply gas to Europe. US O&G companies could get some windfall from this conflict. But Europe will be paying premium for American gas. Especially with O&G prices are soaring, American O&G corporations are gonna fleece the Europeans. Classic capitalism. Cost of living in Europe is gonna go even higher than it already is. Societal problems coming over the horizon.
If Europe is forced to go back to buying from Russia again. They'll have to bypass the Swift system and USD.
So all in all. Russia getting cut off from SWIFT is just bad for the West, no matter how they'll try to justify it. Simply because, gas is still more useful than currency.