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If the US cuts off Russia from SWIFT, Putin has stated that it would mean war. I'm no military expert but my older brother who's an officer told me that he worr
by Jerry2 5y ago
If the US cuts off Russia from SWIFT, Putin has stated that it would mean war. I'm no military expert but my older brother who's an officer told me that he worries that Russia would immediately start cutting undersea cables that carry data across the Atlantic Ocean and basically cut off the US from Europe. That would cause billions of dollars worth of damage to Western economies every single day.
They already sent a message [1].
https://www.thedrive.com/the-war-zone/43828/undersea-cable-connecting-norway-with-arctic-satellite-station-has-been-mysteriously-severed https://www.thedrive.com/the-war-zone/43828/undersea-cable-c...
- avmich 5y agoSWIFT doesn't mean much. Bank transactions can be done by other means, which happened recently. It's speed and convenience, but not qualitative difference.
- ausudhz 5y agoInternational transfer happen all with swift. Europe has its system (IBAN) but still swift is what is used internationally
- odshoifsdhfs 5y agoI think you mean SEPA (Single Euro Payments Area) not IBAN (IBAN is an account number - International Bank Account Number, also used in SWIFT transfers)
- ausudhz 5y agoYa sorry. IBAN is what is used for SEPA payments. You don't have the same with swift since system and code are named (again) swift. I never used IBAN outside of Europe (actually Dubai if I'm not wrong used that too) so I'm not sure how international that is