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

The Best Articles

Update The Best Content Marketing Online

  • Home
  • 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

  • The hidden costs of car insurers’ ‘black box’ devices which are designed to lower premiums
  • Boots reviewing UK stores amid cost-cutting plans
  • Boots stores could close as part of cost-cutting plans
  • Russia backs global use of its alternative SWIFT system
  • Harsh funding cuts mean we’re terrified all the time, warns struggling women’s refuge
  • Russia marks five years since annexation of Ukraine's Crimea
  • Russia plans to press-gang orphans into Putin’s ‘youth army’ as top general moans modern kids ‘can’t throw grenades right’
  • Russia cashes in as European oil refiners pay for US sanctions
  • Mueller report: Donald Trump attempted to have Russia investigation's special counsel fired
  • Uproar as tank cuts put Britain behind world’s military minnows like Cambodia, Serbia and Burma
  • Belarus Seizes a Chance to Hit Russia Where It Hurts
  • Hospital car service has blue badges cut
  • US Cuts Bush-era Phone Spying to Save Money, Not Privacy
  • Russia's Top Banks Plot Temporary Sanctions Workaround
  • Russia’s Massive Infrastructure Overhaul, in 5 Examples
  • I quit my job at ASOS to launch a streetwear fashion brand Beyonce and Taylor Swift love – and it’s set to make me £3.5 million
  • Ukraine Faces a Bleak Winter as Russia Prepares to Cut Off Gas
  • Save money, cut travel time and discover the hidden gems of England this summer
  • The hidden talent making Schar one of the bargains of the season
  • Russia's Moves in Venezuela Aren't That Ominous
The hidden costs of cutting Russia off from SWIFT have 414 words, post on www.economist.com at December 18, 2021. This is cached page on The Best Articles. If you want remove this page, please contact us.

Primary Sidebar

RSS Recent Stories

  • Trump raid hours after Alex Jones texts reportedly filed sparks theories
  • Donald Trump’s Mar-a-Lago raided by FBI, sparking backlash—Updates
  • Unborn babies at diabetes risk if exposed to “forever chemicals”: Study
  • Russian TV airs nuclear missile warning for U.S., Britain
  • Fact Check: Does video show Komodo dragon devour a whole Baby Deer?
  • Queen’s traditional Balmoral welcome scaled back amid mobility problems
  • Donald Trump releases video slamming Biden’s America as FBI raid Mar-a-Lago
  • U.S. sending Ukraine HIMARS missiles “equivalent of an airstrike”: Pentagon
  • Education Department’s fake punt on women’s sports | Opinion
  • Letters: Act now to save the Colorado River for future generations

Sponsored Links

  • Spider-Man: No Way Home Leaked on Torrent Sites, Piracy Networks as Marvel Movie Releases in Cinemas
  • Fast & Furious 10 Release Postponed to May 19, 2023: Report
  • Dell Project Pari: Magnetic Webcam Helps Make Eye Contact | Digital Trends
  • The Best Apple HomeKit-Compatible Devices | Digital Trends
  • YouTube Says Services Fixed After Disruption Affects Thousands
Copyright © 2022 The Best Articles. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story