They did it....The first Russian Banks have been Removed from the SWIFT System

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  • Art
    Senior Member, Deceased
    • Dec 2009
    • 9256

    #1

    They did it....The first Russian Banks have been Removed from the SWIFT System

    This is a true top tier economic sanction and it will bite instantly. There are runs on the Russian banks right with Russians trying to trade in Rubles for Dollars and Euros. There is a problem though. Most of those Euros and Dollars are held in Banks outside of Russia and are now inaccessible. This was an EU initiative basically kicked off by the Brits but enough got on board to pull it off. The worldwide consequences are yet to be felts and may not be completely pleasant for us either. This is a real, REAL sanction. More banks may come later .
    Last edited by Art; 02-27-2022, 01:52.
  • RED
    Very Senior Member - OFC
    • Aug 2009
    • 11689

    #2
    The State Department is telling Americans they should get out of Russia while getting out is still possible. And, Putin has put his nuclear arms assets on high alert.

    Now what does Biden do, institute sanctions on Russian vodka? Or just hide in the basement?

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    • Vern Humphrey
      Administrator - OFC
      • Aug 2009
      • 15875

      #3
      Originally posted by RED
      The State Department is telling Americans they should get out of Russia while getting out is still possible. And, Putin has put his nuclear arms assets on high alert.

      Now what does Biden do, institute sanctions on Russian vodka? Or just hide in the basement?
      I'll go with hide in the basement and drink the vodka.

      Comment

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