Russian Central Bank. TASS
Antonio Graceffo, Zero Hedge/The Epoch Times: Banning Russia From SWIFT Would Drive It Closer To China
The United States has threatened to cut Russia off from the SWIFT banking system, to prevent it from invading Ukraine. This would wreck Russia’s economy, driving the country closer to China.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT), established in 1973, is a communication platform that is used by banks, brokerages, and financial institutions to process payments across countries. Each year, SWIFT transmits roughly 10 billion messages between 11,000 financial institutions in more than 200 countries and dependencies, processing trillions of dollars in payments.
The SWIFT system is governed by Belgian and European law, and is overseen by the G10 central banks. Therefore, SWIFT would not be obligated to meet U.S. demands. But Washington could pressure the platform to comply, as it did in 2012, when the United States wanted Iranian banks removed due to economic sanctions.
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WNU Editor: The Kremlin would regard such a ban as an act of war. The consequences will be enormous, starting with the cutting of energy supplies to Europe from Russia.
2 comments:
If cutting SWIFT is the biggest non-military stick in "toolbox" and if Joe Biden's handlers will not use it, because of the Russian threat/promise to cut energy supplies, then Joe Biden, Kamala, Blinken and others are just bloviating when they say they will do something.
Other sanctions have been shown not to work. Back in 2014 targeted sanctions against individuals and companies looked like a way to sanction and not hurt the Russian people. It failed.
Military aid to Ukraine has been paltry.
At this point there is a status quo, where Russia makes threatening military moves and the Americans talk. The exercises will be a series of feints to wear the Ukrainians down or not continually feint until the Russians see an opening.
Hoe many times does a boxer feint until he lands a hard blow. Just because a boxer has not hit hard yet and is throwing feints does not mean he is not trying.
The Russians do not take weak seriously, but they may take crazy or worse seriously.
... do not take weakness ...
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