We have heard a lot recently about the sanctions imposed by the international community on the Russian Federation during its entry into Ukrainian territory, which will inflict financial and economic harm on Russia, the consequences of which began to appear in the open, the first of which was the impact of the Russian ruble by 25 percent against the dollar.
SWIFT system: It is a system established in the seventies of the last century (1973), which is an acronym for (SociEty for world wide Lnter bank. FinanciaL TeLe communications)
It means the Association for International Financial Communications between Banks, and it is an international network concerned with the exchange of information, messages, remittances and financial movement that links thousands of banking institutions and banks around the world. A bank and a financial institution, which is the safety valve for the transfer of funds for international trade.
The question here:
1_ How will the impact of sanctions on Russia?
2_ Can Russia conduct banking transactions with lower costs and effort?
3_ How will Russia reap its profits from oil and gas exports?
4_ Is the alternative Russian payment system capable and usable as an alternative to Swift?
This is what the coming days be revealed.
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