Category: the SWIFT

Russian Investors Find Short-Term Solution to Western Sanctions Against Moscow, Expert Says

March 14, 2022
CCPChinaChina Business & EconomyChinese Yuaneconomic sanctionsEuropeforeign exchange reservesInternationalRussiaRussia-UkraineRussia-Ukraine WarRussian banksthe SWIFTUkraineWestern sanctionsWorld
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Converting foreign assets into Chinese yuan assets may be a short-term solution for Russian investors in the wake of Western sanctions against Moscow, according to experts. The exclusion of major Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, shuts them out from the U.S.-dominated international fund transfer system. Although this severely…

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China Won’t Dare to Rupture Relations with US, Europe Over Russia-Ukraine Conflict, Economists Say

March 9, 2022
ASMLBusiness & EconomyCCPChinaChina Business & EconomyeconomyEuropeEurope-China RelationsEuropean UnionInternational RelationsRussiaRussia-UkraineRussia-Ukraine WarRussia's invasionthe SWIFTUkraineUnited StatesWorld
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Although China and Russia have announced a “no limits” partnership, with “no forbidden areas of cooperation,” Beijing is unlikely to do anything to jeopardize its economic relationship with Europe and the United States, economists say, citing that China has long benefited from global integration and seeks to maintain the world economic order from which it…

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Japan to Freeze Assets of Four More Russian Banks From April 2

March 4, 2022
Asia & PacificassetsBusiness & Economyeconomic policieseconomyEuropeMarketsRussia-Ukraine WarRussian banksswiftthe SWIFTWorld
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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…

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Putin’s Ukrainian Gamble Blows Up

February 27, 2022
NATOOpinionRussiasanctionsthe SWIFTUkraineViewpoints
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Commentary On the morning of Feb. 24, central European time, Russian military forces attacked Ukraine across four separate axes—from the north, east, and south. For the first time in 75 years, air raid sirens once again blared across one of Europe’s ancient capitals. The expectation among Western military analysts, and most certainly within the Kremlin,…

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