Russia Says Ready to Leave SWIFT, Plans to Join Iran’s Sepam

In an interview with RT television network, Russian Foreign Ministry spokeswoman Zakharova said while Russian authorities still assess the likelihood of being cut from the Western payment system, they are already working to reduce risks and possible damage (the U.S. weaponizes the SWIFT system by preventing international transactions for certain countries…countries must then find other ways to trade with other countries).

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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