pull down to refresh

0 sats \ 1 reply \ @cryptocoin OP 26 Feb 2022 \ parent \ on: Why the West is reluctant to deny Russian banks access to SWIFT | The Economist bitcoin
Newly emerging dilemma: if America uses its international financial power to cut major countries like Russia out of SWIFT, it encourages them to start their own systems, eroding that same international financial power
write
preview
0 sats \ 0 replies \ @cryptocoin OP 26 Feb 2022
The system only works within Russia,[3] though there are plans to integrate the network with the China-based Cross-Border Inter-Bank Payments System.[4]
The Russian Government is also in talks to expand SPFS to developing countries such as Turkey and Iran.[6] Owing to its limitations, the SPFS system is seen as a last resort, rather than as a replacement for the SWIFT network.
SPFS https://en.wikipedia.org/wiki/SPFS
reply