<iframe src="//www.googletagmanager.com/ns.html?id=GTM-K3L4M3" height="0" width="0" style="display:none;visibility:hidden">

World

Expelling Russia from Swift would be a massive economic shock

27 February 2022

4:45 AM

27 February 2022

4:45 AM

If Russia is expelled from the Swift banking messaging system, that would be serious economic warfare against Putin.

Because Thursday’s decision by the US Treasury to make it almost impossible for Russia’s two biggest banks, VTB and Sperbank, to do any business with US institutions or use US infrastructure to process dollar payments will potentially disrupt tens of billions of dollars of Russian financial transactions every day, much of it related to its huge oil and gas industry.

Already a subscriber? Log in

Subscribe for just $2 a week

Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.

  • Unlimited access to spectator.com.au and app
  • The weekly edition on the Spectator Australia app
  • Spectator podcasts and newsletters
  • Full access to spectator.co.uk
Or

Unlock this article

REGISTER


Comments

Don't miss out

Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.

Already a subscriber? Log in

Close