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

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

DON'T MISS

Trump Eyes Major Funding Cuts for California, Including All Public Universities

DON'T MISS

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

DON'T MISS

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

DON'T MISS

US Supreme Court Allows DOGE Broad Access to Social Security Data

DON'T MISS

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

DON'T MISS

Abrego Garcia Is Returned to US From El Salvador

DON'T MISS

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

DON'T MISS

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

DON'T MISS

Documentary Series Goes Inside Trump’s Bubble

UP NEXT

Trump Eyes Major Funding Cuts for California, Including All Public Universities

UP NEXT

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

UP NEXT

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

UP NEXT

US Supreme Court Allows DOGE Broad Access to Social Security Data

UP NEXT

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

UP NEXT

Abrego Garcia Is Returned to US From El Salvador

UP NEXT

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

UP NEXT

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

UP NEXT

Documentary Series Goes Inside Trump’s Bubble

UP NEXT

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

Environment /

5 hours ago

US Supreme Court Allows DOGE Broad Access to Social Security Data

Courts /

5 hours ago

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

Healthcare /

5 hours ago

Abrego Garcia Is Returned to US From El Salvador

Immigration /

6 hours ago

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

Crime /

6 hours ago

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

Tech /

6 hours ago

Documentary Series Goes Inside Trump’s Bubble

Trump Admin /

6 hours ago

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

Courts /

6 hours ago

Newsom Promises Funding to Jump-Start ‘Science of Reading’

Education /

7 hours ago

Feds Indict SoCal Hospice CEO for Medicare Fraud in Fresno and Kern Counties

Crime /

7 hours ago

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

The world’s largest almond processor, Blue Diamond Growers, says it will close its Sacramento processing plant this year The almond co...

Agriculture /

4 hours ago

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

Trump Admin /

5 hours ago

Trump Eyes Major Funding Cuts for California, Including All Public Universities

Agriculture /

5 hours ago

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

Environment /

6 hours ago

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

Courts /

6 hours ago

US Supreme Court Allows DOGE Broad Access to Social Security Data

Healthcare /

6 hours ago

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

Immigration /

7 hours ago

Abrego Garcia Is Returned to US From El Salvador

Crime /

7 hours ago

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

MORE LATEST →

Local /

12 hours ago

Sunday’s Life Jacket Giveaway Promotes Safety on Fresno Area Waters

Food /

2 days ago

Sunnyvale Pitmaster Smokes Fresno BBQ Competition for Golden Ticket to World Championships

Latest /

2 days ago

Wired Wednesday: A New Research Hub in Southeast Fresno?

Politics 101 /

3 days ago

Fellow Clovis Councilmember, Public Bash Pearce Over Trans Athlete

Crime /

1 week ago

Trump Eyes Major Funding Cuts for California, Including All Public Universities

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

Newsom Promises Funding to Jump-Start ‘Science of Reading’

NASA and the Defense Department Rely on SpaceX in So Many Ways

Whooping Cough Is Surging. Do You Need Another Shot?

Jury Awards California Prosecutor $3 Million After She Says She Was Forced Out of Her Position

Aaron Rodgers Ends Months-Long Dance With Steelers by Agreeing to a 1-Year Deal

New CA Bill Would Streamline Solar Conversion for Dry Farmland

Share

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

DON'T MISS

Trump Eyes Major Funding Cuts for California, Including All Public Universities

DON'T MISS

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

DON'T MISS

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

DON'T MISS

US Supreme Court Allows DOGE Broad Access to Social Security Data

DON'T MISS

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

DON'T MISS

Abrego Garcia Is Returned to US From El Salvador

DON'T MISS

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

DON'T MISS

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

DON'T MISS

Documentary Series Goes Inside Trump’s Bubble

UP NEXT

Trump Eyes Major Funding Cuts for California, Including All Public Universities

UP NEXT

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

UP NEXT

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

UP NEXT

US Supreme Court Allows DOGE Broad Access to Social Security Data

UP NEXT

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

UP NEXT

Abrego Garcia Is Returned to US From El Salvador

UP NEXT

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

UP NEXT

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

UP NEXT

Documentary Series Goes Inside Trump’s Bubble

UP NEXT

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

5 hours ago

US Supreme Court Allows DOGE Broad Access to Social Security Data

5 hours ago

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

5 hours ago

Abrego Garcia Is Returned to US From El Salvador

6 hours ago

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

6 hours ago

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

6 hours ago

Documentary Series Goes Inside Trump’s Bubble

6 hours ago

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

6 hours ago

Newsom Promises Funding to Jump-Start ‘Science of Reading’

7 hours ago

Feds Indict SoCal Hospice CEO for Medicare Fraud in Fresno and Kern Counties

7 hours ago

4 hours ago

Categories

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

Trump Eyes Major Funding Cuts for California, Including All Public Universities

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters