News Forum - The west weaponises SWIFT as it ramps up sanctions against Russia

[Guest1]

27 minutes ago, HiuMak said:

takes a bit more effort and time and more expensive but can be done

Aside, that right now ONLY the russian banks are targeted, which are already sanctioned. Gazprom bank, for example, is NOT OUT of swift, yet!

[Grumpish]

2 hours ago, Guest1 said:

Since Fax is still a common thing, in Thailand, why not?

Swift is a quick INFO system, about the transfer of the money.

"SWIFT is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions".

But that can be dealt with.

Fax needs "a bit longer", only.

Also I am, certain, Chinese Bank, which are using also another chinese system, aside swift, and Russia is on it for some time, will be able to help out!

SWIFT is a secure messaging system, it is used to authorise the transactions and works through gateways installed in financial institutions - fax is about as secure as a chocolate teapot by comparison. CIPS is the Chinese system, but I am not sure how that would work in terms of allowing Russian banks to interface with Western banks. 

[Donald]

All the comments here are generally the same tune, and that is Russia is to blame. But does someone here try to see the bigger picture ? Since the demise of the Soviet Union in 1991 NATO has been expanding aggressively into former East block countries although there was a clear agreement that was not going to happen. Ukraine is now the straw that broke the camels back. Russia did not move it's military bases closer to NATO, but NATO encroaches upon Russia's borders. And attacking Ukraine is certainly no small feat, but where is the condemnation from all you commentators here of all the wars waged by the US and it's allies on countries leaving nothing but devastation and death. All wars based upon blatant lies. If this thing escalates and it looks that it might it will not only be Russia who is to blame.

[Noble_Design]

50 minutes ago, Donald said:

And attacking Ukraine is certainly no small feat, but where is the condemnation from all you commentators here of all the wars waged by the US and it's allies on countries leaving nothing but devastation and death. 

In summary:

1) When the west does it - It's OK we're the good guys, it's all for democracy, some lives lost are expected, either you're with us or you're against us

2) When others do it - Evil bad guys, dictators, terrorists, war mongers

Not taking any sides though, I agree with you that all wars are bad regardless of who started them first

Edited February 28, 2022 by Noble_Design

[EdwardV]

16 minutes ago, Donald said:

although there was a clear agreement that was not going to happen.

What clear agreement? Nothing in the document signed by the USSR precluded NATO from eastward expansion. Let’s not forget it was those same former Soviet block counties that asked to join. Not the other way around. 
 

Fact is Ukraine didn’t qualify for NATO membership. As long as Russia was occupying Crimea they weren’t getting in plain and simple as that. The idea Russia needed to attack Ukraine to keep them from joining NATO is a red herring. Oh and let’s not forget NATO already adjoins Russia. 

[Noble_Design]

15 minutes ago, Transam said:

"All wars based upon blatant lies", do you want to adjust that quote before the flack starts.....

I'm ready with my flak jacket on 

[Soidog]

39 minutes ago, Donald said:

All the comments here are generally the same tune, and that is Russia is to blame. But does someone here try to see the bigger picture ? Since the demise of the Soviet Union in 1991 NATO has been expanding aggressively into former East block countries although there was a clear agreement that was not going to happen. Ukraine is now the straw that broke the camels back. Russia did not move it's military bases closer to NATO, but NATO encroaches upon Russia's borders. And attacking Ukraine is certainly no small feat, but where is the condemnation from all you commentators here of all the wars waged by the US and it's allies on countries leaving nothing but devastation and death. All wars based upon blatant lies. If this thing escalates and it looks that it might it will not only be Russia who is to blame.

I do take on board the wider issue here. I even posted that until this invasion, I did have some sympathy with Putin and even the Chinese. Both countries are essentially surrounded by what they perceive as an enemy at worst, or countries who they simply do not trust at best. 
 

However, and it’s a big big however. Ukraine is an independent sovereign country. It has a right to choose who it does business with and who it decides to cosy up to when it comes to security. The alternative is that it remains a “buffer zone” for eternity. No one forced Ukraine to move closer to the West. It was the failed policies of the former Soviet Union and the corruption in Russia that made the people look for something better. They believe they found that by being closer to the EU and NATO. It’s called Democracy and Putin and his gang of thugs need to respect that. If not, then they will pay a heavy heavy price. Eventually the people of Russia will overthrow these people. Putin will be just the latest dictator to look shocked when his people turn against him. 

[Nobodysfriend]

https://www.bbc.com/news/world-europe-60551140

 

Ukraine invasion: Would Putin press the nuclear button?

"To anyone who would consider interfering from the outside - if you do, you will face consequences greater than any you have faced in history."

"In that TV address, Putin wasn't acting like the master of the Kremlin, but the master of the planet; in the same way the owner of a flash car shows off by twirling his keyring round his finger, Putin was twirling the nuclear button. He's said many times: if there is no Russia, why do we need the planet? No one paid any attention. But this is a threat that if Russia isn't treated as he wants, then everything will be destroyed."

Yes , that is a possibility ... depending on the developments in the near future .

He seems to be mentally unfit enough to start a nuclear war .

 

[koute]

On 2/27/2022 at 4:11 AM, Thaiger said:

The US, European Commission, UK, France, Germany, Italy and Canada have announced they will cut “certain Russian banks” off from the world’s SWIFT bank code system, the global security network that connects thousands of financial institutions. The group said they will “collectively ensure that this war is a strategic failure for Putin”. “This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally… restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.” US and EU officials are […]

The story The west weaponises SWIFT as it ramps up sanctions against Russia as seen on Thaiger News.

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yayyy the swift ban is only for a few banks and its wishy washy. im sure putin is scared now and we all love mummy biden. god ppl are sheeps

Ukrainian boy selendsky cant win but he drags the whole world down

[JustAnotherExpat]

I wonder how many permanent Russian residents there are in Thailand. With the SWIFT sanctions and Wise stopping any fund transfers, they are in a world of hurt through no real fault of their own.

[Noble_Design]

4 minutes ago, koute said:

yayyy the swift ban is only for a few banks and its wishy washy. im sure putin is scared now and we all love mummy biden. god ppl are sheeps

Ukrainian boy selendsky cant win but he drags the whole world down

Of course it's only for a few select banks otherwise how would the west be paying for Russian oil and gas? Or maintenance of the International Space station? 

[Rookiescot]

37 minutes ago, koute said:

yayyy the swift ban is only for a few banks and its wishy washy. im sure putin is scared now and we all love mummy biden. god ppl are sheeps

Ukrainian boy selendsky cant win but he drags the whole world down

You need to get yourself over to your bank and empty your account before the run starts.

Let us know how long the queue at the ATM is 

[Rookiescot]

Ruble now at an ALL TIME LOW v the greenback.

For Tonto Putin the news just keeps getting better. 

[Fundok]

On 2/27/2022 at 6:15 AM, garyw007 said:

How will the lockout of SWIFT affect the Russian tourist industry here in Thailand? Are their credit cards now blocked and will they be able to transfer funds from Russian banks to their accounts in Thailand?  Will the Russian airlines be able to fly here and buy fuel for the return trip? 

Access to bank cards as well as credit cards should be severely limited w/o SWIFT. Same with international bank transfers. Will depend on the bank, but the largest Russian banks are targeted. As for Russian planes; re-fueling and airport fees can always be paid in cash I assume.

[Rookiescot]

40 minutes ago, Fundok said:

Access to bank cards as well as credit cards should be severely limited w/o SWIFT. Same with international bank transfers. Will depend on the bank, but the largest Russian banks are targeted. As for Russian planes; re-fueling and airport fees can always be paid in cash I assume.

Will airports accept Rubles?

[Leo]

One ruble now buys 35 satang (officially), i.e. 1/3 of one baht. Can't make this stuff up. They need almost 3 rubles to get one stinking baht (again, officially, because the unofficial exchange is far worse). Pre-2014 it was about 1 ruble to 1 baht.

Edited February 28, 2022 by Leo

[Soidog]

6 hours ago, JustAnotherExpat said:

I wonder how many permanent Russian residents there are in Thailand. With the SWIFT sanctions and Wise stopping any fund transfers, they are in a world of hurt through no real fault of their own.

I 100% take your point in terms of the individual. But if the Russian people aren’t to blame for allowing Putin to keep power for the past 20 or more years, then who is? 

[TWS60]

6 hours ago, Soidog said:

I do take on board the wider issue here. I even posted that until this invasion, I did have some sympathy with Putin and even the Chinese. Both countries are essentially surrounded by what they perceive as an enemy at worst, or countries who they simply do not trust at best. 
 

However, and it’s a big big however. Ukraine is an independent sovereign country. It has a right to choose who it does business with and who it decides to cosy up to when it comes to security. The alternative is that it remains a “buffer zone” for eternity. No one forced Ukraine to move closer to the West. It was the failed policies of the former Soviet Union and the corruption in Russia that made the people look for something better. They believe they found that by being closer to the EU and NATO. It’s called Democracy and Putin and his gang of thugs need to respect that. If not, then they will pay a heavy heavy price. Eventually the people of Russia will overthrow these people. Putin will be just the latest dictator to look shocked when his people turn against him. 

Agree with how you summarized this in your comment.  Former Soviet states that are part of NATO and aligned with the EU, did so on their own.  Ukraine should be able to do so if they want to, but they do need to work out the rift that runs down the middle of the country.  

Russia already has NATO members on its border, so that justification is hollow, and why Putin manufactured extra 'reasons' why he had to invade and/or embellished others. 

Bottom line is NATO (and EU) have no designs on invading Russia, so he can be nervous, or unhappy about having another one (potentially) on his border, but that's no justification for doing what he's doing.  USSR is gone.  You lost.  You don't get to have buffer states at your discretion.  Get over it.

[Stardust]

6 hours ago, Noble_Design said:

Of course it's only for a few select banks otherwise how would the west be paying for Russian oil and gas? Or maintenance of the International Space station? 

Even the centralbank is sanctioned all is activated since midnight monday. You should read european news not Putin rt news . By the way all reserves of the central bank are frozen. Btw I watched the russians today at the atms and they could not get any money from the atms and seeing them on their phones to get their banks to figure out to get money.

[Noble_Design]

8 minutes ago, Stardust said:

Even the centralbank is sanctioned all is activated since midnight monday. You should read european news not Putin rt news . By the way all reserves of the central bank are frozen. Btw I watched the russians today at the atms and they could not get any money from the atms and seeing them on their phones to get their banks to figure out to get money.

I read only Thailand news like here in Thaiger, I don't read any other European or Russian news so that I can maintain an air of impartiality  . Where did you watch the Russians today ? And how long were you observing them? 

[Noble_Design]

19 minutes ago, Soidog said:

I 100% take your point in terms of the individual. But if the Russian people aren’t to blame for allowing Putin to keep power for the past 20 or more years, then who is? 

Vladimir Spiridonovich Putin and Maria Ivanovna Putina are to be blamed. If those 2 people didn't get together romantically, there will be no Vladimir Vladimirovich Putin.

[Stardust]

16 minutes ago, Noble_Design said:

I read only Thailand news like here in Thaiger, I don't read any other European or Russian news so that I can maintain an air of impartiality  . Where did you watch the Russians today ? And how long were you observing them? 

I watch the german tagesschau, ntv, zdf. And I watched the german Bundestag session on sunday where Scholz anounced all actions including sanctions. 2nd stage is now on all russian banks and central banks. The 2 daughter banks in europe of the biggest russian banks are declared bankrupt today because of that already, the reserves of the central bank are frozen. For sure I not watch any russian news channel! And for news in Thailand I watch the all the Thai news and social media first and after the english media outlets to get my infos. For sure not english one first for thai news and same for any european news!

[Noble_Design]

2 hours ago, Stardust said:

I watch the german tagesschau, ntv, zdf. And I watched the german Bundestag session on sunday where Scholz anounced all actions including sanctions. 2nd stage is now on all russian banks and central banks. The 2 daughter banks in europe of the biggest russian banks are declared bankrupt today because of that already, the reserves of the central bank are frozen. For sure I not watch any russian news channel! And for news in Thailand I watch the all the Thai news and social media first and after the english media outlets to get my infos. For sure not english one first for thai news and same for any european news!

How do Germany pay Russia for the oil, gas and coal import then? 

https://www.reuters.com/world/europe/how-much-does-germany-need-russian-gas-2022-01-20/

Russia is the biggest supplier of gas in Germany, also supply 34% oil and more than 50% coal to Germany

Edited February 28, 2022 by Noble_Design

[EdwardV]

Seems not only are Russian citizens are worried about their ability to access, Russian shops are worried about getting paid in anything other than cash. From Fortune website: 

Russians formed large queues to withdraw cash from their bank accounts on Monday as the ruble plummeted in response to sanctions imposed on Russia by the U.S., U.K., Canada, and European Union over the weekend. The currency dropped almost 30% in value on Monday. Adding to the pressure on Russian banks, many shops stopped accepting some card payments in anticipation that the U.S. decision to cut a number of Russian banks off from the SWIFT payments network might result in the inability for these card transactions to be processed. The Bank of Russia, the country’s central bank, more than doubled interest rates to 20% in an attempt to shore up the crumbling ruble. The country also barred foreign investors from selling Russian stocks and bonds in an effort to force them to continue to hold rubles.

 

[Stardust]

1 minute ago, Noble_Design said:

How do Germany pay Russia for the oil, gas and coal import then? 

https://www.reuters.com/world/europe/how-much-does-germany-need-russian-gas-2022-01-20/

Russia is the biggest supplier of gas in Germany, also supply 34% oil and more than 50% coal to Germany

https://cloudfront-us-east-2.images.arcpublishing.com/reuters/FUAZM2HKGFO6HBXOMSWLYJ3WFM.png

I guess you not read the news that northstream is quited and they already organised other gas supplier like Norway, suppliers from the north sea. You want know what happened in Germany then watch the german news as I already recommented. For sure this is the source to get the newest news. All this you sent me is already old news and before the Russian invasion. They already prepared for to complete supply stop from Russia otherwise they couldnt make the sanctions. Then even watch the english version of dw to be informed.