Why wasn't Russia cut off from SWIFT?

[BeyondGeography]

[gab13by13]

1. Well, because the EU is hesitating

President Biden wants to keep our allies united. If Russia is banned from SWIFT it will not be able to export its fossil fuels so what will happen is Russia will shut off the gas to the EU.

With that said, the US and Canada are trying to convince the EU to do SWIFT. The US and Canada can do SWIFT but would it fracture our alliance?

[BeyondGeography]

2. His point is the existing targeted sanctions are doing the job just as well if not better

IOW, he agrees with what Biden said earlier this week.

[blue-wave]

3. Recent reports

are saying that the 3 countries who opposed cutting Russia from Swift are now on board with the idea. I would venture to guess there might be an announcement soon. It could be hours or a couple days. This one action will hurt Russia's economy badly.

[jaxexpat]

4. Call in all of Russia's markers.

Banks that are holding Russian assets should pay off their debts to banks holding their IOU's. To the extent such a transaction covers their total debt, well enough. If there is still unpaid debt, confiscate everything that can be collateralized for the remaining payment. In all reality, trade with Russia (and for that matter any other nation) is non-essential. They have nothing to deny the world that can't be duplicated by reallocating existing commodities and resources. Close their borders, hold all their aircraft and ships that land or dock outside their borders, until they fully comply with internationally determined standards. Encourage the Russian people to pull Putin, along with his cadre, out of power.

War: the H-bomb is decisive, but it is too quick and irredeemably destructive. Wealth starvation is much more survivable.

Every day is revolution. ......and, yes, I know how irredeemably naive I sound. But, frankly, I've grown tired of Russia hogging the nightmare ridden sleep of capitalists for the last 105 years.