Why Disconnecting Russia From SWIFT Could Deal a Blow to Its Economy

By News

Published 3 years ago on

February 28, 2022

On Saturday, Western allies moved to block certain Russian banks’ access to the SWIFT international payment system in further punishment of Moscow as it presses on with its military invasion of Ukraine.

SWIFT is a network used by banks to send secure messages about transfers of money and other transactions.

More than 11,000 financial institutions around the world use SWIFT, making it the backbone of the international financial transfer system.

DON'T MISS

Jeffrey Sachs Warns of Looming US War With Iran

DON'T MISS

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

DON'T MISS

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

DON'T MISS

Why It’s Hard to Control What Gets Taught in Public Schools

DON'T MISS

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

DON'T MISS

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

DON'T MISS

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

DON'T MISS

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

DON'T MISS

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

DON'T MISS

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

UP NEXT

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

UP NEXT

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

UP NEXT

Why It’s Hard to Control What Gets Taught in Public Schools

UP NEXT

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

UP NEXT

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

UP NEXT

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

UP NEXT

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

UP NEXT

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

UP NEXT

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

UP NEXT

This French Bulldog Is So Fetch: Meet Toaster Strudel

Why It’s Hard to Control What Gets Taught in Public Schools

Education /

6 hours ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

Healthcare /

6 hours ago

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

Holidays /

7 hours ago

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

U.S. /

7 hours ago

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

Holidays /

7 hours ago

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

World /

8 hours ago

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

Biden Admin /

8 hours ago

This French Bulldog Is So Fetch: Meet Toaster Strudel

Animals /

10 hours ago

The Fed Expects to Cut Rates More Slowly in 2025. What That Could Mean for Mortgages, Debt and More

Economy /

12 hours ago

New California Voter ID Ban Puts Conservative Cities at Odds With State

Elections /

13 hours ago

Jeffrey Sachs Warns of Looming US War With Iran

In a recent interview, renowned economist Jeffrey Sachs outlined his concerns about the possibility of war with Iran, framing it as the culm...

World /

5 hours ago

Jeffrey Sachs Warns of Looming US War With Iran

Animals /

5 hours ago

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

Opinion /

6 hours ago

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

Education /

6 hours ago

Why It’s Hard to Control What Gets Taught in Public Schools

Healthcare /

6 hours ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

Holidays /

7 hours ago

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

U.S. /

7 hours ago

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

Holidays /

7 hours ago

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

MORE LATEST →

Housing /

3 days ago

Wired Wednesday: Will New Homes Be Built at Old IRS Site?

Inspire /

6 days ago

Dream to Reality: Boxing Champion’s Wife Opens Luxury Salon in Northeast Fresno

Crime /

1 week ago

Fresno Police Release Video of Gun Battle That Killed Gang Member, Injured Sergeant

Politics /

1 week ago

Wired Wednesday: Holding up a Fresno Council Meeting to Host a Fundraiser

Crime /

1 week ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

Big Lots Holds Going-Out-of-Business Sales After Deal to Save Company Fails

Senate Set to Approve 235th Judge of Biden’s Term, Beating Trump’s Tally

Starbucks Workers Plan Strikes That Could Spread to Hundreds of US Stores by Christmas Eve

Share

RELATED TOPICS:

DON'T MISS

Jeffrey Sachs Warns of Looming US War With Iran

DON'T MISS

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

DON'T MISS

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

DON'T MISS

Why It’s Hard to Control What Gets Taught in Public Schools

DON'T MISS

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

DON'T MISS

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

DON'T MISS

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

DON'T MISS

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

DON'T MISS

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

DON'T MISS

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

UP NEXT

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

UP NEXT

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

UP NEXT

Why It’s Hard to Control What Gets Taught in Public Schools

UP NEXT

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

UP NEXT

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

UP NEXT

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

UP NEXT

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

UP NEXT

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

UP NEXT

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

UP NEXT

This French Bulldog Is So Fetch: Meet Toaster Strudel

Why It’s Hard to Control What Gets Taught in Public Schools

6 hours ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

6 hours ago

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

7 hours ago

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

7 hours ago

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

7 hours ago

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

8 hours ago

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

8 hours ago

This French Bulldog Is So Fetch: Meet Toaster Strudel

10 hours ago

The Fed Expects to Cut Rates More Slowly in 2025. What That Could Mean for Mortgages, Debt and More

12 hours ago

New California Voter ID Ban Puts Conservative Cities at Odds With State

13 hours ago

5 hours ago

Categories

Jeffrey Sachs Warns of Looming US War With Iran

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

Why It’s Hard to Control What Gets Taught in Public Schools

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

Wired Wednesday: Will New Homes Be Built at Old IRS Site?

Dream to Reality: Boxing Champion’s Wife Opens Luxury Salon in Northeast Fresno