Will a SWIFT Ban Really Hurt Russia Economy and Foreign Trade?

U.S.-EU block of Russia’s access to fund transfer system SWIFT would certainly sting but could force wider adoption of Moscow’s alternative SPFS Sanctions and countersanctions are the new norm in the escalating Cold War pitting the United States and Russia. While Western-backed Ukraine prepares for a potential Russian invasion, Moscow now awaits Washington and Brussels to introduce new restrictions on its financial institutions. While Russia masses troops near the Ukrainian border, and Kiev conducts inspections of the capital’s bomb shelters, it is still highly doubtful a major war will break out this winter. Still, the U.S. and EU are expected…