Russia’s central bank announced Tuesday that it would no longer disclose the names of banks that use its alternative to the SWIFT payment system. The move comes after several Russian banks were banned from SWIFT—the cross-border payment system operator—as part of measures that came in response to President Vladimir Putin’s invasion of neighboring Ukraine, which…
Russia Says It Will Not Disclose Banks Linked to SWIFT Alternative: Report
The CCP’s Neutrality in the Russia—Ukraine War Is Undermined
Commentary Despite strong international appeals for China to stop supporting Russia’s invasion of Ukraine, the ruling Chinese Communist Party (CCP) is bent on providing much-needed political, diplomatic, and economic support, if not military, to the aggressor. Over a month after the invasion and days after U.S. President Joe Biden warned his Chinese counterpart, Xi Jinping,…
Russia Turns to China for Microchips for In-demand Domestic Bank Cards
Russia is turning to microchip manufactures in China to circumvent western sanctions which have boosted demand for bank cards linked to the Mir payment system, an executive with the domestic payment system said. Western sanctions imposed on Russia over its invasion of Ukraine have cut Moscow off the global financial system and from nearly half…
Russia and Iran Collaborate on SWIFT Alternative
Leaders in the Russian Federation and the Islamic Republic of Iran are developing an alternative to the SWIFT system for messaging for international payments, according to a key Iranian diplomat in comments made on Thursday. On the subject, Iranian ambassador to Russia Kazem Jalali told reporters, “We are making efforts in this direction,” according to…
Banks Fear Swift Will Be Next Russian Cyberattack Target
The cyber specialists of the big banks have set an alert as concerns brew amongst the big banks over Swift’s vulnerability to Russian cyberattacks, the Financial Times reports. The attacks ended, kicking seven of the country’s lenders off the global payments messaging system. Swift plays a crucial role in global banking, facilitating trillions of dollars…
A SWIFT Kick in Russia’s Assets Isn’t Enough
Commentary As Russia’s invasion into Ukraine continues, among the U.S. responses is the denial of selected Russian banks’ access to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) international financial messaging network. Keep in mind that the SWIFT system has been a critical component of American foreign policy since 1973, as has the dollar’s reserve…
Japan to Freeze Assets of Four More Russian Banks From April 2
TOKYO—Japan will freeze the assets of four additional Russian banks from April 2, Finance Minister Shunichi Suzuki said on Thursday, taking to seven the total number Tokyo has slapped with such sanctions. Prime Minister Fumio Kishida’s cabinet approved the decision to freeze the assets of VTB Bank, Sovcombank, Novikombank and Otkritie, the Ministry of Finance…
EU Bans Russian Banks From SWIFT, Leaves Energy Trade Open
The European Union on Wednesday formally excluded seven Russian banks from the SWIFT payment system as part of the bloc’s latest sanctions over Russia’s attack on Ukraine. “Today’s decision to disconnect key Russian banks from the SWIFT network will send yet another very clear signal to [Russian President Vladimir] Putin and the Kremlin,” European Commission…
Taiwan Joins SWIFT Sanctions on Russian Banks, Ships Medical Supplies to Ukraine
TAIPEI, Taiwan—Taiwanese Premier Su Tseng-chang said on March 1 that Taiwan will work with Western countries in their ban of selected Russian banks from the SWIFT international payment system. The SWIFT ban was announced on Feb. 26 by the United States, the European Union, Canada, France, Germany, Italy, and the UK, in response to Russia’s…
Central Banks Seen Enhancing Liquidity After SWIFT Ban: Credit Suisse Strategist
NEW YORK—The banning of certain Russian banks from the SWIFT international payment system could push central banks to enhance liquidity to offset missed payments, a Credit Suisse strategist said on Sunday. Western nations announced on Saturday a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the…
US News
Deprecated: implode(): Passing glue string after array is deprecated. Swap the parameters in /home/xtreme/public_html/wp-content/plugins/wp-rss-retriever/inc/lib/simplepie/library/SimplePie/Parse/Date.php on line 544
Deprecated: implode(): Passing glue string after array is deprecated. Swap the parameters in /home/xtreme/public_html/wp-content/plugins/wp-rss-retriever/inc/lib/simplepie/library/SimplePie/Parse/Date.php on line 545
- Mimi Nguyen LyThe U.S. Department of State on Monday said that independent investigators couldn’t clearly conclude the origin of the bullet that killed Al-Jazeera journalist Shireen Abu Akleh. The 51-year-old reporter for Al-Jazeera’s Arabic language channel died… [...]
- The Associated PressCHARLESTON, W.Va.—A federal judge on Monday ruled in favor of three major U.S. drug distributors in a landmark lawsuit that accused them of causing a health crisis by distributing 81… [...]
- Mimi Nguyen LyTwo police officers sustained injuries after they were shot in Philadelphia, Pennsylvania, during fireworks to celebrate the fourth of July, according to reports. The officers were sent to the Jefferson University… [...]
- The Associated PressRICHMOND, Va.—Amber Heard’s lawyers have asked a judge to throw out the $10.35 million verdict against her in the defamation case filed by ex-husband Johnny Depp, arguing that the verdict… [...]
- Masooma HaqNBA free agent Enes Kanter Freedom recently launched the Enes Kanter Freedom Foundation to help fight for religious liberty and human rights around the world. Freedom said it’s time to take… [...]
- Mimi Nguyen LyThe U.S. Coast Guard has rescued seven people after their vessel was struck by lightning off Florida. The incident took place about 100 miles offshore of Clearwater, Pinellas County. A four-person aircrew… [...]
- Caden PearsonCalifornia Gov. Gavin Newsom has granted a pardon to Sara Kruzan who spent 18 years in prison for murdering the man who trafficked her for sex as a teen. In… [...]
- Daniel Y. TengAustralia’s Foreign Minister Penny Wong has reaffirmed the country’s commitment to nuclear non-proliferation after a meeting with the head of the International Atomic Energy Agency (IAEA) on July 4. Rafael… [...]
- Gary BaiThe U.S.-Mexico border has become the world’s “deadliest” land crossing, according to data recently brought to light by a United Nations study. A historic high of 728 recorded immigrant deaths… [...]
- Bill PanThe City of Orlando, Florida, has apologized for its official message about the July 4 holiday that questioned why people would want to celebrate it at all. “A lot of people… [...]