Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank
The Financial Times reported that a Russian court confiscated €800 million from Deutsche Bank, UniCredit, and Commerzbank. Moscow has had enough after two years of being the target of a weaponized global reserve currency, being kicked out of SWIFT, countless (toothless) sanctions, and witnessing the freezing and eventual confiscation of about $350 billion in assets. […]
UN Helping Russian Bank With SWIFT Bypass
According to UN spokesman Stéphane Dujarric, the UN is assisting a Russian bank with a SWIFT bypass after it was disconnected as part of Ukraine-related sanctions last year. The UN continues to work on ensuring that Russia’s requirements in the Black Sea grain deal are implemented, including the removal of obstacles for banking operations involving […]
The Rise Of The Global South And The Foundation Of A New Currency System
You may recall that Russia has been cut off from the SWIFT system. Now if you’re a consumer of Western legacy media, you’d likely not have heard a word on it, but the fact is that Russia was largely prepared for this and has already developed and is now using the SPFS the Russian equivalent of SWIFT, developed by the Central Bank of Russia since 2014.
India Planning Alternative To SWIFT
Indians living abroad sent back $87 billion last year, the most amount of any country the World Bank has been keeping track of. With such a huge sum on the line, India is planning an alternative to SWIFT banking system whichis prone to US sanctions.
BRICS Nations Should Create Their Own SWIFT System To Counter Sanctions And Strengthen National Currency
Russian finance minister says the BRICS nations should create their own SWIFT system to counter sanctions and strengthen their own national currency.
By Enforcing Sanctions On Russia, SWIFT May Commit Suicide
the U.S. doesn’t only project power across the globe through its massive military. It also weaponizes the U.S. dollar, using its economic dominance and its privilege as the issuer of the reserve currency as a carrot-stick tool of foreign policy.
What Is The Impact Of A SWIFT Ban On Russia And The World
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the global financial system that allows immediate and secure transfers of money across borders. It is the web that verifies all financial transactions. It links 11,000 banks and institutions in more than 200 countries, with 40 million messages a day. Using SWIFT ensures that transactions happen in seconds in a secure way. Around 1% of those messages involve Russian payments, according to the BBC.