What is SWIFT, and why is it a sticking point in the efforts against Putin?

But that “messaging system,” called SWIFT, is a crucial tool for all sorts of commerce across national borders, and plenty of commentators and leaders believe Russia needs to be knocked out of it.SWIFT is the Society for Worldwide Interbank Financial Telecommunications. As Radio Free Europe explains it:

If U.S. and European leaders agree, they could kick Russia off SWIFT, and thus Russian companies and the government might effectively be detached from the financial system of the rest of the world. But President Joe Biden made it clear in his Thursday remarks that some European governments aren’t totally on board with dropping Russia even after its invasion of Ukraine. All reporting points to the resisters being Germany, which famously has been cozy with Russia’s energy industry, and Italy.

Others add Putin has alternative ways to get and send money, so this action wouldn’t harm the regime that much. Cutting Russia out of SWIFT could push it toward China.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AnnaLynne McCord trolled over Vladimir Putin video amid Russia-Ukraine war“I’m so sorry that I was not your mother,” the “90210” alum began a bizarre poem addressed to the Russian president after his troops invaded Ukraine. I smell patchouli Can't wait for Imagine singalong video from Hollywood knuckleheads US and NATO have abandoned Ukraine to its own devices, watch Nazi Serial Killer Putin assassinate Ukrainians, it's the present repeating the past, Putin won't stop until he burns all of Europe, suggests a Fourth Reich ready to take over the world
Source: PageSix - 🏆 320. / 59 Read more »

Joe Biden hits Russia with new sanctions, says Vladimir Putin ‘chose’ war with UkrainePresident Joe Biden ordered broad new sanctions targeting Russia on Thursday after its invasion of Ukraine, declaring that Russian leader Vladimir Putin “chose this war” and his country will bear the consequences. Read Biden's full remarks here: Oooo they're so scared The consequences will be a lot of name-calling on MSM.
Source: PhillyInquirer - 🏆 81. / 68 Read more »

Letters to the Editor — Vladimir Putin, Edwin Flores, foster care, Eddie García, immigrationWith Russia’s recognition of two separatist regions in Ukraine, Vladimir Putin has made it clear that he is playing chess while President Joe Biden is playing...
Source: dallasnews - 🏆 18. / 71 Read more »

90210's AnnaLynne McCord mocked for sharing weird poem about Vladimir PutinActress AnnaLynne McCord uploaded a video of a poem she penned in which she said she would have made Russian president Vladimir Putin 'warm' if she was his mother
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Why is Russia's Vladimir Putin so obsessed with invading Ukraine?Russian President Vladimir Putin needs the former Soviet republic Ukraine for his dream of returning superpower days. Why has Russia always been a force for evil in the world? His star is sinking Why did Trump help him?
Source: latimes - 🏆 11. / 82 Read more »