Momentum grows to ban Russia from SWIFT payment system

[blue-wave]

Source: Reuters

WASHINGTON, Feb 25 (Reuters) - Canada, the United States, Britain and the European Union on Friday said they could act to exclude Russia from the SWIFT global interbank payments system in a further round of sanctions aimed at halting Russia's invasion of Ukraine.

Such a move could happen in coming days after officials in two European countries that had voiced reservations - Germany and Italy - softened their opposition against kicking Russia out of the world's main international payments network, U.S. and European officials said.

Doing so would hit Russian trade and make it harder for Russian companies to do business. SWIFT is a secure messaging system that facilitates rapid cross-border payments and is the principal mechanism for financing international trade.

Read more: https://www.reuters.com/world/europe/momentum-grows-ban-russia-swift-payment-system-2022-02-26/

[dalton99a]

1. Do it.

Make them use email and telex - or carry cash in suitcases

[Ghost Dog]

2. So, the US, UK and the EU don't want to cut off oil and gas supplies from Russia,

they just don't want to pay for them?

[orangecrush]

11. Fuck russia

Fuck putin.

[Cha]

3. KR TY & World Leaders..

Pres Biden!
💙

[LastLiberal in PalmSprings]

5. Russia could just use the hawala system to transfer funds.

It's old, but it works.

[blue-wave]

6. Yeah, but what's

the cost and speed of that system and is it safe to use? Then again, we could also move to shut them out of that system.

[littlemissmartypants]

8. Unfortunately, the link doesn't seem to be.

[Ghost Dog]

9. Yes it does... Nt

[littlemissmartypants]

10. Not for me. ❤

[blue-wave]

12. I just checked the link again and it worked

FYI. If you use a VPN, sometimes they interfere with connection.

[ZonkerHarris]

7. cut off the money and Russia caves

[LetMyPeopleVote]

13. US + EU commit to removing selected Russian banks from Swift

Link to tweet

[Dawson Leery]

14. kick