7 Hrs
Source:
اقتصاد
اقتصاد
Ready to play
Ready to play
The episode “Who Rules the World?” explains that SWIFT transmits payment instructions but does not transfer money or manage accounts. Carrying out a transfer requires correspondent banking relationships and available balances, as well as approval from the institutions involved. It notes that removing banks from the network, sanctions, or fear of sanctions can disrupt payments even for exempt goods, citing BNP Paribas’s 2014 settlement of approximately $8.97 billion. Alternatives differ: Russia’s SPFS transmits messages, while China’s CIPS provides clearing and settlement services in yuan. But successful payment still depends on the currency being available, the parties’ willingness to accept it, and the risks involved. Restoring connectivity alone, therefore, is not enough to restore financial flows.
Notice: This Is an AI-Generated Summary
Comments (0)