• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Vietnam Dance

Update latest Vietnam Art & Entertainment News

  • About Us
  • Contact Us
  • Disclaimers
  • DMCA
  • Privacy Policy
  • Submit your story
You are here: Home / The hidden costs of cutting Russia off from SWIFT

The hidden costs of cutting Russia off from SWIFT

F OR WEEKS Russia has been massing troops and tanks near the Ukrainian border. Neither talks with nor threats from the West have stemmed the flow. With America and its allies loth to commit forces, another option is gaining prominence: cutting Russia off from SWIFT , the messaging network used by 11,000 banks in 200 countries to make cross-border payments. Flicking a switch seems safer than putting boots on the ground. But it could have dangerous consequences. A first hurdle would be getting SWIFT to comply. The co-operative of banks, based in Belgium, vows to be politically neutral. Many European countries, such as Germany, do a lot of business with Russia, and may oppose the plan. But there is a precedent. In 2018 America managed to force SWIFT to ditch Iranian banks even in the face of European resistance. America would probably have its way again. It could threaten to pull its own banks from SWIFT , or to seize infrastructure vital to the network, such as a data centre in Virginia. In 2020 it used similar threats to force SITA , a network of global airlines based in Switzerland, to disconnect carriers from countries facing American sanctions. But would… Read full this story

  • Russia Looks to Hurt U.S. in Space After New Sanctions
  • Foot Soldiers in a Shadowy Battle Between Russia and the West
  • Oil Prices Nose-Dive as OPEC and Russia Fail to Reach a Deal
  • Ghost of Tsushima Director's Cut: What's New on Iki Island | Digital Trends
  • Energy rationing feared as Russia’s gas squeeze exposes the UK’s perilously low reserves
  • Pessimistic Outlook in Russia Slows Investment, and the Economy
  • ExxonMobil to Trim U.S. Workforce, Citing Cost Reductions and COVID-19
  • Cost-sharing deal needed quickly, says Austin
  • Russia cultivates alternatives to Western financial firms
  • Afghan Episode Has Exposed American Fickleness, India Would Do Well to Remain Invested in Russia
The hidden costs of cutting Russia off from SWIFT have 298 words, post on www.economist.com at December 18, 2021. This is cached page on Vietnam Dance. If you want remove this page, please contact us.

Primary Sidebar

RSS Recent Stories

  • Việt Nam confirms 1,275 new COVID-19 infections on Thursday
  • COVID-19 new cases in Việt Nam on May 26 afternoon
  • Việt Nam calls for Asia to create peaceful, sustainable environment for world prosperity
  • Discussion outcomes will determine Việt Nam’s accession to Indo-Pacific economic initiative: foreign ministry
  • Lawmakers deal with overlap in inspection and draft mobile police law

Sponsored Links

  • How American stocks could continue to climb
  • Which is The Economist’s country of the year for 2021?
  • After a shocker in 2021, where might inflation go in 2022?
  • The hidden costs of cutting Russia off from SWIFT
  • Has the pandemic shown inflation to be a fiscal phenomenon?
Copyright © 2022 Vietnam Dance. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story