title: Possible Effects Of A Russian-Chinese Joint SWIFT System On The Eurasian Economy And The World Trade System
abstract: The Society for Worldwide Interbank Financial Telecommunications, called SWIFT, is considered a cornerstone of global transactions. At its founding, SWIFT membership amounted to 239 banks from fifteen Western countries. Past examples show that SWIFT can also be used as a weapon, even though it is nominally independent. Recent statements indicate that the US and the EU are seriously considering removing Russia from the SWIFT system in case of tension. In fact, back in 2014 after Russia annexed Uk