How Russia’s SWIFT Ban Could Backfire on West & Pave Way for Alternative Payment Systems

All Russian banks already subjected to sanctions will be disconnected from SWIFT, European Commission President Ursula von der Leyen announced on Saturday. The EU, the UK, Canada and the US agreed to implement the measure over Russia’s “special operation” to “de-militarise and de-nazify” Ukraine.  “The removal of Russian banks from SWIFT means that while transactions can continue to take place the means of communicating have been rendered slower,” says Suranjali Tandon, assistant professor at a