Loading ...So Many Holes In SWIFT Sanctions On Russia, They Are Useless
FAZ informs us that the Swift sanctions are essentially dead in the water. Only seven banks, representing a quarter of the Russian banking sector, are subject to the sanctions. What happened is that once this sanctions list went through the mill of talks with member states, only this pared-down lists survives. The EU originally promised to hit 70% of the Russian banking system. One reason for the exclusion of Sberbank is the deposits held by savers in the bank’s EU subsidiaries. It would have triggered massive deposit insurance claims.
https://www.zerohedge.com/geopolitical/so-many-holes-swift-sanctions-russia-they-are-useless