Vladimir Putin’s invasion of neighboring Ukraine is sending ripples across the global economy that could be felt for months or years to come. Here are examples of the impact.
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International Banking The Biden administration, Canada, United Kingdom, France, Germany, and others announced that they would remove Russian banks from the Society for Worldwide Interbank Financial Telecommunication messaging system (SWIFT), an important tool used by countries to engage in international banking. If the U.S. proceeds to cut Russia out of the payment network known as SWIFT it could isolate Russia and bar transfer of profits from oil production, accounting for […]
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