Isn't this worse for the US than for Germany? Isn't it in the interest of the USD to keep swift as the primary method for moving money and not let any other system rise?
Cutting Russia from SWIFT is not like cutting Iran off. Russia is way richer with far more reach and cutting more and more countries off of the network will give more and chance for one of the alternatives to grow.
Cutting Iran from SWIFT has also just created pressure on Iran to not rely on foreign economies too much. And you can see this by how they've essentially become immune to more sanctions, or global economic termoil.
Honestly cutting Russia off of SWIFT is going to create a much more dangerous Russia in the next few decades.
I was surprised to learn that the GDP of Russia is barely higher than the combined GDP of Luxembourg, Belgium an the Netherlands, three relatively small EU countries. Russia is a big country, has a large population, a populous army, but is relatively poor. War is expensive.
This is another huge mistake from the Western liberal order that keeps fumbling the ball.
Relying on Russian gas for energy security was the first.
What are the root causes if these disastrous decisions? How did the East get smarter, more Machiavellian than us? They were in the trash can 20 years ago. Perhaps getting fat and rich rather than fighting for every penny.. we are missing street smarts, and end up with Justin Trudeau
mngnt|4 years ago
They "soften" in their "don't cut Rusia from SWIFT" stance.
In other words, Germany is coming closer to harder sanctions.
sschueller|4 years ago
firstSpeaker|4 years ago
aaomidi|4 years ago
Honestly cutting Russia off of SWIFT is going to create a much more dangerous Russia in the next few decades.
yabatopia|4 years ago
I was surprised to learn that the GDP of Russia is barely higher than the combined GDP of Luxembourg, Belgium an the Netherlands, three relatively small EU countries. Russia is a big country, has a large population, a populous army, but is relatively poor. War is expensive.
sydthrowaway|4 years ago
This is another huge mistake from the Western liberal order that keeps fumbling the ball.
Relying on Russian gas for energy security was the first.
What are the root causes if these disastrous decisions? How did the East get smarter, more Machiavellian than us? They were in the trash can 20 years ago. Perhaps getting fat and rich rather than fighting for every penny.. we are missing street smarts, and end up with Justin Trudeau
aaaaaaaaata|4 years ago