Weaponised finance: Sanctions on Russia is war by other means

Finance and geopolitics are often considered a toxic mix. Nearly two weeks in, Russia’s war in Ukraine is taking that mix to new levels of both toxicity and consequence.

The scope of sanctions has demonstrated the web of transnational interdependencies that constitute the fabric of every contemporary society, said Mikhail Sebastian, a London-based political risk analyst. Now those central banks are now refusing to make good on them. “Russia thought they had billions of foreign reserves. Now, they don’t.”

Sebastian thinks such an escalation is likely forcing central banks, oligarchs, and even normal investors to rethink their assumptions around the nature of money. He believes the use-case for decentralised digital assets like cryptocurrencies will get a stronger look too.

All states must have Chinese payment system as well as swift...or suffer in future like russia

I don't think so. But today i am happy to see that Saudi Arabia and United Arab Emirates refuse calls of President POTUS . It's time to United Muslim countries on one page in UN and help each other.

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Explainer: How sanctions against Russia are battering the global aviation industryRussia's size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to earlier freezes on Iran and North Korea.
Source: Reuters - 🏆 2. / 97 Read more »