SWIFT cut a raft of Iranian banks – including the country’s central bank – off from its system on Monday, having come under pressure from the US to do so. Treasury Secretary Steven Mnuchin said that the move is “the right decision to protect the integrity of the international financial system.” Continue reading US Has Gone Rogue with SWIFT’s Iran Cutoff
Tag Archives: SWIFT system
For Russia, Change Comes SWIFTly
During the Ruble crisis of 2014/15, Russia announced in the wake of U.S. and European sanctions over reunifying with Crimea that it would begin building a domestic electronic financial transfer system, an alternative to SWIFT. Continue reading For Russia, Change Comes SWIFTly
Establishing Alternative to SWIFT
SWIFT is the backbone for establishing secure financial transactions between financial institutions globally. Ideally, the system must be neutral and transparent.
Recently, the Cabalists have raised their anti-Russian rhetoric by kicking out the Reformists out of the system to maintain their grip on the system.
BRICS has no other alternative but to establish their own version of the SWIFT system. With 180+ countries backing them up, this should be just another walk in the park.
Russia, China in talks to make alternative to SWIFT — deputy PM
September 10, 18:14 UTC+4
Russian authorities wanted to decrease the financial market’s dependence on SWIFT since the introduction of the first U.S. sanctions
Russian authorities wanted to decrease the financial market’s dependence on SWIFT since the introduction of the first U.S. sanctions