I am surprised they didn’t do the SWIFT ban on Russian since they all did the sanctions and they also forbid to do business with many Russian banks.
Why do they refuse to ban SWIFT exactly? They are afraid some companies will have trouble sending and receiving money from banks? But aren’t they sanctioned anyways from doing business with Russia anyways. This is what I don’t understand.
I hope you stay safe. Hope this conflict ends soon.
Not every "business" has been sanctioned. So they still need the banking system. And then some EU countries like Germany (not confirmed) are opposing the ban because the ban will do more harm to their economy than to Russia due to them being dependent on energy. And even if they did ban Russia from SWIFT, they would be able to use other means for bank to bank transaction. And don't forget. They have China with them and they can start using CIPS for cross border transaction. Why do they refuse to ban SWIFT exactly? They are afraid some companies will have trouble sending and receiving money from banks? But aren’t they sanctioned anyways from doing business with Russia anyways. This is what I don’t understand.
I hope you stay safe. Hope this conflict ends soon.
