Complexities come with an insidious burden and blindness that human nature oddly finds attractive. Complexity is often equated with sophistication, however, erroneously. Complex objects, ideas, and systems tend to elicit awe. Complex problems tend to be treated with complex solutions. Not surprisingly, such is the state of monetary affairs. The thing about complexity is that…
Japan Updating Forex Law to Block Russia From Circumventing Sanctions Through Cryptos
March 28, 2022
admin
Asia & PacificBusiness & Economyeconomic policieseconomyEuropeForexjapanese sanctionsMarketsRussia-Ukraine Warsanctions on RussiaSWIFT banking systemWorld
0 Comment
The government of Japan is seeking to revise its foreign exchange laws to block Moscow from evading sanctions by using cryptocurrencies. A revised version of the Foreign Exchange and Foreign Trade Act will be presented by the government at the current session of parliament, Chief Cabinet Secretary Hirokazu Matsuno said at a press conference. At…
Beware of the Long-Term Implications of a Sino-Russian Alliance
Commentary As anticipated, Vladimir Putin has invaded Ukraine. As also anticipated, the West has responded with economic sanctions. U.S. sanctions alone include: asset freezes on Russia’s primary financial institutions and key elites; restrictions upon these same banks from making transactions in U.S. dollars; substantial limitations upon debt and equity financing; import and export controls over…
SWIFT Ban Is a Major Blow on Russia and Puts China in a Dilemma: Experts
As Russia’s invasion of Ukraine continues, in addition to the United States, Britain, Canada, and the European Union (EU), more countries have agreed to exclude Russia from the SWIFT banking system. Experts believe the ban is expected to bring a major blow to the Russian economy and put China, as a supporter of Russia, in…
South Korea Sanctions Russian Banks, Urges Local Institutions to Halt Trading in Russian State Bonds
March 2, 2022
admin
Asia & PacificBusiness & Economyeconomic policieseconomyEuropeMarketsRussia-UkraineRussia-Ukraine WarSouth KoreaSWIFT banking systemWorld
0 Comment
South Korea’s government announced Tuesday that it will cut financial transactions with seven Russian banks as part of its economic sanctions against the Russian government, in response to Russia’s attack on Ukraine. The Finance Ministry stated that it will halt financial transactions with seven major Russian banks and their subsidiaries that the United States has…
UK Joins US, EU in Sanctioning Russia’s Central Bank, Aims to ‘Devastate’ Economy, ‘Target’ Putin and Sergey Lavrov
February 28, 2022
admin
Business & EconomyChancellor of the Exchequer Rishi Sunakeconomic policieseconomyEuropeMarketsRussia Ukraine invasionRussia-Ukraine WarSWIFT banking systemUKUK sanctionsWorld
0 Comment
The UK government has joined the European Union (EU) and the United States in announcing new sanctions against the Russian Central Bank in a bid to ramp up pressure against Moscow for its invasion of Ukraine. The new sanctions are aimed at preventing the Central Bank of the Russian Federation (CBR) from deploying foreign reserves…
The Impact of a SWIFT Ban on Russia and the World
Commentary SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the global financial system that allows immediate and secure transfers of money across borders. It’s the web that verifies all financial transactions. It links 11,000 banks and institutions in more than 200 countries, with 40 million messages a day. Using SWIFT ensures that transactions happen in…
US and Western Allies to Remove ‘Selected’ Russian Banks From SWIFT
February 26, 2022
admin
Business & EconomyeconomyEuropeInternationalMarketsRussiaRussia-Ukraine WarstocksSWIFT banking systemUkraineUSUS NewsWorld
0 Comment
The United States, European Union, and other Western allies announced Saturday they will cut off certain Russian banks from the SWIFT international payments system, and put restrictions on the Russian Central Bank, in retaliation for Russia’s attack on Ukraine. Banks use the SWIFT system to settle cross-border payments, and it is regarded as crucial for financing international trade….
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`