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What is SWIFT and why were some Russian banks excluded from it?

Al Jazeera, 27 Feb 2022
Russia’s invasion of Ukraine has triggered sanctions against the country as well as calls to sever it from the main global payments system.
On Saturday, the United States and its allies moved to block certain Russian banks’ access to the SWIFT international payment system in further punishment of Moscow as it continues its military assault.

Al Jazeera takes a look at the payment system and its relevance to the crisis in Ukraine.

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