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The weak west should kick russia out of SWIFT

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Ken Blake

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Feb 26, 2022, 12:37:06 PM2/26/22
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The weak west should kick russia out of Swift!
Be strong. Not weak. Prove your strength.

Otherwise Putin will take over all of eastern europe.

Ken Blake

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Feb 26, 2022, 6:23:35 PM2/26/22
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https://www.cnn.com/2022/02/26/politics/biden-ukraine-russia-swift/index.html
EU nations announce expulsion of selected Russian banks from SWIFT

France, Germany, Italy, the United Kingdom and Canada, announced Saturday
evening that they would expel certain Russian banks from SWIFT, the
high-security network that connects thousands of financial institutions
around the world, pledging to "collectively ensure that this war is a
strategic failure for (Russian President Vladimir) Putin."

The statement still leaves the actual technical details -- and the specific
Russian lenders that will be cut off from SWIFT -- unclear, with EU
officials still in the midst of hammering out the final details of the
action.

Scott

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Feb 27, 2022, 4:33:19 AM2/27/22
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On Sat, 26 Feb 2022 10:36:55 -0700, Ken Blake <K...@invalidinvalid.com>
wrote:

>The weak west should kick russia out of Swift!
>Be strong. Not weak. Prove your strength.
>
>Otherwise Putin will take over all of eastern europe.

(Should be OT)

1. Would exclusion from Swift prevent the Russians converting Roubles
to another currency? I assume they will have to pay for their imports
in a suitable currency?
2. It is reported that Russia has vast currency reserves. I assume
these are not held in the form of bank notes, so without Swift can
they access that money and make payments?
3. Could they barter instead, eg oil for arms?

Abandoned_Trolley

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Feb 27, 2022, 5:28:27 AM2/27/22
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> 3. Could they barter instead, eg oil for arms?

because they are probably running low on arms ?


--
random signature text inserted here

Scott

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Feb 27, 2022, 8:08:08 AM2/27/22
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On Sun, 27 Feb 2022 10:28:23 +0000, Abandoned_Trolley
<fr...@fred-smith.co.uk> wrote:

>
>> 3. Could they barter instead, eg oil for arms?
>
>because they are probably running low on arms ?

Because they don't have easy access to USD which I assume is the usual
currency for settlement.

Scott

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Feb 28, 2022, 4:50:02 AM2/28/22
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On Sat, 26 Feb 2022 16:23:25 -0700, Ken Blake <K...@invalidinvalid.com>
wrote:
[snip]

To continue this OT thread, I am wondering how BP can sell its stake
in Rosneft. I assume it cannot be sold to any Russians because of the
sanctions. I assume the shares cannot be traded on the London Stock
Exchange. If they sell it to a third party (China or UAE have been
mentioned) how can the buyer be sure that the registrars in Russia
will record the sale and not take exception to the buyer or simply
nationalise it?

grinch

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Feb 28, 2022, 6:45:18 AM2/28/22
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Russia is the worlds largest exporter of natural gas
Russia is the worlds second largest exporter of oil

It makes all its own chemical, conventional and nuclear weapons and most
likely biological weapons as well.

If it can feed its population from its own resources possibly, but
soviet governments don't usually worry about things like that or at
least not in the past.

It is reputed to have large reserves of foreign currency as well.

So what will sanctions do ??? Probably not a lot.

Scott

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Feb 28, 2022, 6:57:43 AM2/28/22
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On Mon, 28 Feb 2022 11:45:14 +0000, grinch <gri...@somewhere.com>
wrote:

>On 27/02/2022 13:08, Scott wrote:
>> On Sun, 27 Feb 2022 10:28:23 +0000, Abandoned_Trolley
>> <fr...@fred-smith.co.uk> wrote:
>>
>>>
>>>> 3. Could they barter instead, eg oil for arms?
>>>
>>> because they are probably running low on arms ?
>>
>> Because they don't have easy access to USD which I assume is the usual
>> currency for settlement.
>
>Russia is the worlds largest exporter of natural gas
>Russia is the worlds second largest exporter of oil

Which seem to be excluded from the sanctions.
>
>It makes all its own chemical, conventional and nuclear weapons and most
>likely biological weapons as well.
>
>If it can feed its population from its own resources possibly, but
>soviet governments don't usually worry about things like that or at
>least not in the past.
>
>It is reputed to have large reserves of foreign currency as well.

But can they access the foreign currency reserves? This seems to be
in doubt according to R4 Today this morning.
>
>So what will sanctions do ??? Probably not a lot.

I am wondering this too.
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