by Summary:
Background on international payments systems and Western monopoly — so far. While Russia's exclusion from SWIFT would be painful, there are workarounds, and the net effect would be to hasten the already developing de-dollarization that taking place owing the the US weaponing the USD-based system. Russia and China have already been taking steps to isolate themselves from a weaponized dollar. Now, it is a matter of time.The Vineyard of the SakerRussia without SWIFT KakaousiaSee also "SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions," the State Bank of Pakistan (SBP) said in a press release late Tuesday, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.
Topics:
Mike Norman considers the following as important: sanctions, SWIFT
This could be interesting, too:
Background on international payments systems and Western monopoly — so far. While Russia's exclusion from SWIFT would be painful, there are workarounds, and the net effect would be to hasten the already developing de-dollarization that taking place owing the the US weaponing the USD-based system. Russia and China have already been taking steps to isolate themselves from a weaponized dollar. Now, it is a matter of time.The Vineyard of the SakerRussia without SWIFT KakaousiaSee also "SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions," the State Bank of Pakistan (SBP) said in a press release late Tuesday, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.
Topics:
Mike Norman considers the following as important: sanctions, SWIFT
This could be interesting, too:
Matias Vernengo writes The Gift of Sanctions
Peter Dorman writes Monetary Sovereignty, Sanctions and Russian Economic Policy
Chris Blattman writes The invention of sanctions
Mike Norman writes Southfront — Russia Stopped Using SWIFT And Dollars In Weapon Contracts
While Russia's exclusion from SWIFT would be painful, there are workarounds, and the net effect would be to hasten the already developing de-dollarization that taking place owing the the US weaponing the USD-based system. Russia and China have already been taking steps to isolate themselves from a weaponized dollar. Now, it is a matter of time.
Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown
The Vineyard of the Saker
Russia without SWIFT
Kakaousia
See also
"SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions," the State Bank of Pakistan (SBP) said in a press release late Tuesday, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.
"The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy related measures to ensure that imports, exports and financing transactions can be denominated in yuan," Dawn news, Pakistan's most widely read English-language daily, announced while quoting the SBP press release.Zero Hedge
Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown
Tyler Durden