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Chinese banks still need SWIFT, and if we find any Chinese banks using CIPS to do business with sanctioned Russian entities, they will get cut off too and now b
by xadhominemx 5y ago
Chinese banks still need SWIFT, and if we find any Chinese banks using CIPS to do business with sanctioned Russian entities, they will get cut off too and now both Chinese and Russian banks will be screwed.
- hackerfromthefu 5y agoWouldn't this just be done with an intermediary? Russian bank -> disposable temporary bank -> permanent chinese bank That way the disposable temporary bank is the one that's blacklisted, while the permanent one never did business with the sanctioned entity (directly).
- xadhominemx 5y agoYou can’t just add a temporary bank to the SWIFT network, and in any event any new bank that is added to the network or starts engaging in the sorts of transactions they have never engaged in before is going to attract a lot of scrutiny in this period