Impact of SWIFT Sanction on Global Economy
Journal: Advances in economics, business and management research/Advances in Economics, Business and Management Research
Year: 2022

The ongoing Russia-Ukraine war has brought the SWIFT payment system into the spotlight, with the US and European countries having taken steps to remove Russia from the financial system.This could end up being a lethal catastrophe for Russian banks, particularly the smaller ones.International money transfer using SWIFT banking system was established many years ago.SWIFT has developed to play a critical part in the progression of global business since its beginning in 1973.It facilitates the excha