What is Swift and why is it being debated as a sanction option for Russia? Here's what we know.
by disconnecting it from the so-called Swift global payment system. Fear of collateral damage is putting the idea on hold for now.
The Society for Worldwide Interbank Financial Telecommunication, or Swift, is the financial-messaging infrastructure that links the world’s banks. The Belgium-based system is run by its member banks and handles millions of daily payment instructions across more than 200 countries and territories and 11,000 financial institutions. Iran and North Korea are cut off from it.
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