SWIFT’s Russia ban is symbolic — and that’s why it’s so important
SWIFT’s Russia ban is symbolic — and that’s why it’s so important Russia’s exclusion from SWIFT is a powerful means of undermining its economy How SWIFT works SWIFTwas founded in 1973 to provide secure messaging for international payments. It is a Belgian member-owned co-operative, with around 11,000 member banks from 200 countries and territories. It provides messaging systems for instructing and then monitoring interbank payments and trade finance, integrated into banks’ processing systems worldwide....