Korn insists on cutting Russia out of SWIFT, making international money transfers much more difficult, suggests speeding up cleaning before Thailand hits
from the case of Archyde.com A report on February 27 said that the United States and its Western allies announced that it would impose additional economic sanctions by cutting a number of Russian banks from Global Interbank Financial Telecommunication Business Association System or Swift (SWIFT), which is an interbank financial communication system through a computer system that has a global network. It connects financial institutions around the world, transferring billions of dollars each day.
Russia relies heavily on the “Swift” payment system for its major oil and gas exports. This system is a secure messaging system. This makes it possible to make fast cross-border payments in international trade.
side Mr. Korn Chatikavanich Dare Party Leader Indicates the event that How does cutting Russia from SWIFT affect Thai businesses!? The removal of Russian banks from SWIFT will make it (much) more difficult for Russia to transfer international funds, which will have a severe effect on the Russian economy (at least 5% GDP), but will also affect the European and global economies. too For example, gas, where 30-40% of Europe’s gas comes from Russia. From now on, will you buy/sell each other or not and how? And how will it affect the gas price and the oil price that Thailand has to buy? As for Thai entrepreneurs waiting for payment from Russian partners need to clear up quickly
Mr. Korn added that SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. which is an interbank messaging system to confirm cross-border money transfers There are about 300 Russian banks in this system.
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