The far bigger better news to me is France started seizing physical assets like I hoped all the countries would start doing, if we aren't going to put boots on the ground then the "blood" must be from assets even if Russia counters and seizes foreign assets too.
More like a delay to get everything worked out there isn’t a button to push to cut a country off SWIFT each institution with access to SWIFTnet would have to do it on their end.
Russia has huge foreign currency reserves this is the main goal of this sanction it would prevent them from using their reserves to sustain their own economy whilst their own currency collapses.
However that is not a bad thing if they can drain Russian bank?
Based on that other article, SWIFT cutoff will only cost Russia 5% GNP ( https://archive.today/XqZzK )
The far bigger better news to me is France started seizing physical assets like I hoped all the countries would start doing, if we aren't going to put boots on the ground then the "blood" must be from assets even if Russia counters and seizes foreign assets too.
https://www.telegraph.co.uk/world-news/2022/02/26/france-sei...