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> how many countries will need to agree before shutting down SWIFT access Its HQ is in Belgium, so technically, this can be a unilateral decision by Belgian PM
by sam_lowry_ 5y ago
> how many countries will need to agree before shutting down SWIFT access
Its HQ is in Belgium, so technically, this can be a unilateral decision by Belgian PM De Croo. In practice, as it was the case with Iran, US and EU have to reach political agreement before De Croo would budge.
- chasd00 5y agoisn't it a private company? If so, it would seem they could "de=platform" anyone at any time for any reason.
- sam_lowry_ 5y agoIt is a cooperative https://kbopub.economie.fgov.be/kbopub/toonondernemingps.html?ondernemingsnummer=413330856 https://kbopub.economie.fgov.be/kbopub/toonondernemingps.htm...
- eunos 5y agoHuh didn't know that there's new Belgian PM. In my mind the Belgian PM is still either di rupio or Charles Michel.
- wolverine876 5y ago> Its HQ is in Belgium, so technically, this can be a unilateral decision by Belgian PM De Croo. How does the Belgian PM have power over it? The United Nations is headquartered in New York, but that doesn't give anyone in the US unilateral power over it.
- science4sail 5y agoPresumably the PM could coerce the SWIFT staff to do some action (see the fears European countries have about the relationship between the US government and its tech companies).
- sam_lowry_ 5y agoThis is how it worked for Iran sanctions.
- wolverine876 5y agoThe Belgian PM coerced SWIFT to sanction Iran?
- sam_lowry_ 5y agoI must correct myself. For Iran sanctions, SWIFT implemented EU Council decision passed on by Belgian Treasury. When I was talking about PM, I was simplifying a bit. https://www.swift.com/insights/press-releases/swift-instructed-to-disconnect-sanctioned-iranian-banks-following-eu-council-decision https://www.swift.com/insights/press-releases/swift-instruct...