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Doubts surface over decision to allow Gazprombank to remain on global payments system
If the dollar’s standing is unassailable, the temptation to weaponise the dollar more often will be enormous.
Payments messaging system could be targeted as pinch point of global transactions network
It was broad financial sanctions and fines, not cutting off access to the messaging network, that had the biggest impact.
Sberbank and Gazprombank not on proposed list for sanctions, say people with knowledge of talks
Moscow and Beijing share common cause to reduce use of dollars worldwide
A dash for liquidity has begun, and will spread
It would be a glaring omission if punitive measures exclude energy payments via Swift
Pledges are most severe yet against Moscow as troops push into Ukraine’s second-largest city
The messaging network has become the embodiment of the “weaponisation of finance”
Failure to kick Russia out of the global payments system exposes split in the west’s common purpose
UK prime minister pushes ‘very hard’ for move while Germany has expressed reservations
Ban from payments alliance over Ukraine might not isolate country financially
Country’s banks could be barred from global payments system but some say this is not the best way to put pressure on Putin
Central bank takes action as US threatens ‘massive consequences’ if Moscow invades Ukraine
Economic reprisals if the Kremlin invades Ukraine will not necessarily cover the world payments system
A crucial linchpin of the world’s financial plumbing is ripe for disruption
Leibbrandt joins us today to discuss his new book “The Pay Off”.
Banks seek to hedge tech bets with legacy platform’s latest pilot
Special channel to safeguard non-US transactions with Tehran remains in limbo
Finance ministers to press Mnuchin on payments issue at IMF meeting
Giving the currency a bigger global function means rewiring the EU’s machinery
Foreign minister seeks European autonomy on issues such as Iran