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The article discuss the benefits and drawback of SWIFT being the dominating banking system in the world, and the risk that cutting of Russian banks from it woul
by belorn 5y ago
The article discuss the benefits and drawback of SWIFT being the dominating banking system in the world, and the risk that cutting of Russian banks from it would encourage the other banking systems to take over. What I find missing from the article is that primary intention of wanting to cut off Russian banks from SWIFT, ie stopping trade between Russia and other countries. In particular, stopping Germany and Italy, the two countries most dependent on Russian oil and natural gas.
If the world want to stop countries from trading with Russia, have a trade agreement that imposes sanctions to anyone trading with Russia and goods that comes from Russia. Right now the oil and gas from Russia is just as bloody as blood diamonds.
- dundarious 5y agoOil from Saudi Arabia is no less bloody. The Yemen war is dragging on for another year, and the civilian toll is unbelievable. I don't think the concept of justice is the primary motivator here, or at the very least, it's an utterly compromised sense of justice.
- maccolgan 5y ago