Re:A quick breakdown of what SWIFT is and why it matters
by csomar on Friday February 25, 2022 @02:52PM
(#30471552)
They can "print" as many USD as they want in-house. But in order to process transactions abroad, they need a US bank account. They can't print money in that.
The US sanctions (freezing their US assets) has more effect, in that regard, than a SWIFT blockade. The US seems to be the interested party in this war, and Germany is much less enthusiastic about it. Remember, SWIFT is a Belgium company and the US has been hostile to European financial institutions lately.
The US sanctions (freezing their US assets) has more effect, in that regard, than a SWIFT blockade. The US seems to be the interested party in this war, and Germany is much less enthusiastic about it. Remember, SWIFT is a Belgium company and the US has been hostile to European financial institutions lately.