Could the U.S. have weakened its financial clout by using it to sanction Russia?

Apr 4, 2022
Probably not, but Russia and China are likely to keep looking for ways to avoid U.S.-controlled financial infrastructure.
The U.S. has a lot of leverage in the global financial system — at least for now.
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What exactly is the SWIFT banking system?

Mar 3, 2022
It allows financial institutions around the world to communicate quickly and efficiently. Seven Russian banks are being banned from the system.
A view of Bank Rossiya's headquarters in St. Petersburg, Russia. Bank Rossiya is one of seven banks that have been barred from the SWIFT messaging system.
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Could China's payments system be a SWIFT workaround for Russia?

China's system is known as the Cross-Border Interbank Payments System, or CIPS for short.
China's CIPS interbank payments system is seen as a possible avenue for Russia after it was cut off from the more widely used SWIFT system.
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How Russia could feel the sting of being excluded from SWIFT

Feb 28, 2022
Being cut off from the SWIFT system means Russian banks can't legally or efficiently execute transactions.
A protester holds a placard during a rally against Russia's invasion of Ukraine, at Place de la Republique in Paris, on Febr. 26, 2022.
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