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The Street
The Street
By Luc Olinga The U.S. and Europe have begun to impose financial sanctions on Moscow and its banks. Russia’s invasion of Ukraine prompted a barrage of financial sanctions aimed at isolating and punishing Moscow. President Joe Biden, for example, has limited exports to Russia and imposed sanctions on Russian banks and other state-owned enterprises. But neither the U.S. nor Europe has yet threatened to block Russia’s access to the SWIFT system, a consortium financial institutions worldwide use as a crucial communications line for global commerce. If Russia were ever excluded from SWIFT, many won…
