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 currency status in the world. The dollar makes up almost 60 percent of foreign currency reserves, and the vast majority of trade transactions in the world involve a U.S. financial institution. Crashing the Russian Economy This partial SWIFT denial has certainly had an impact on Russia’s economy. But it may not be as tough or as effective as intended. After all, the United States is buying around 650,000 barrels of oil from Russia every day at inflated prices. Additionally, Visa, Mastercard, and PayPal have shut down their services in Russia. The upshot is that credit …