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Maybe this is naive, but could SWIFT payments to Russian accounts be banned, while still allowing SWIFT payments from Russian accounts?

xchaotic 5y ago
I think the issue is (as always) not technical but a human problem. If the swift payments were blocked, what incentive would the creditors have in paying back the debt?
usr1106 5y ago
Most of Europe depends on Russian oil. If you cannot pay the Russians for the oil, European cars will have to stop. Well, it could be replaced by Arab oil. But the price would go up a lot. Yellow vests would no longer be a French thing only. Every European car owner pays for Putin's tanks. Indirectly even American ones. Would they leave their cars home Russian oil could be replaced on the world market without having the price go up drastically.
- WastingMyTime89 5y ago
  Oil is not an issue. Europe can get its oil from other producers. Russia has the largest share of the European oil import but it is not irreplaceable. Gas is the issue. Europe doesn’t have the infrastructure it needs to not depend on import from Russia when it comes to gaz. All the site where liquified gaz can be delivered are already at full capacity.
  - usr1106 5y ago
    Gas might be more difficult to replace for some countries like Germany. But Russia makes much more money from oil than from gas. (I read today, no reference handy right now.)
    - WastingMyTime89 5y ago
      Gas is not more difficult to replace. Gas is impossible to replace. Europe can't satisfy its demand from gas without the Russian pipelines. It might in three years if they start building terminals now. It can't today.
      - usr1106 5y ago
        Nothing is impossible. Remember that 2.5 years ago we all said it would be impossible to stop international air traffic and close all borders between free countries. Still, it was possible. Some reopend earlier, some later. The US opened up for Europe just a couple of months ago. Australia opened only a couple of days ago. The question is what price people are willing to pay. The sad truth is that the Western people value their own energy bills or comfort much higher than Putin invading Ukraine.
WastingMyTime89 5y ago
There is no such thing as a SWIFT payment. SWIFT is strictly a messaging service. You can send a payment order through SWIFT but it is settled by traditional means.

xchaotic 5y ago

I think the issue is (as always) not technical but a human problem. If the swift payments were blocked, what incentive would the creditors have in paying back the debt?

usr1106 5y ago

Most of Europe depends on Russian oil. If you cannot pay the Russians for the oil, European cars will have to stop. Well, it could be replaced by Arab oil. But the price would go up a lot. Yellow vests would no longer be a French thing only. Every European car owner pays for Putin's tanks. Indirectly even American ones. Would they leave their cars home Russian oil could be replaced on the world market without having the price go up drastically.

WastingMyTime89 5y ago
Oil is not an issue. Europe can get its oil from other producers. Russia has the largest share of the European oil import but it is not irreplaceable. Gas is the issue. Europe doesn’t have the infrastructure it needs to not depend on import from Russia when it comes to gaz. All the site where liquified gaz can be delivered are already at full capacity.
- usr1106 5y ago
  Gas might be more difficult to replace for some countries like Germany. But Russia makes much more money from oil than from gas. (I read today, no reference handy right now.)
  - WastingMyTime89 5y ago
    Gas is not more difficult to replace. Gas is impossible to replace. Europe can't satisfy its demand from gas without the Russian pipelines. It might in three years if they start building terminals now. It can't today.
    - usr1106 5y ago
      Nothing is impossible. Remember that 2.5 years ago we all said it would be impossible to stop international air traffic and close all borders between free countries. Still, it was possible. Some reopend earlier, some later. The US opened up for Europe just a couple of months ago. Australia opened only a couple of days ago. The question is what price people are willing to pay. The sad truth is that the Western people value their own energy bills or comfort much higher than Putin invading Ukraine.

WastingMyTime89 5y ago

There is no such thing as a SWIFT payment. SWIFT is strictly a messaging service. You can send a payment order through SWIFT but it is settled by traditional means.