|
|
|
|
|
|
by rowls66
1577 days ago
|
|
|
I disagree. US law and regulations are not tied to any particular messaging system. US banks are required to know their customers, and obey OFAC sanctions lists no matter how they send/receive payment instructions. If Russian banks are sanctioned, then US banks are not allowed to send dollars to or from them no matter how they choose to communicate. The part of you post that I was primarily objecting to was that bit about this "UBS won't get $50 million added to their balance sheet because other banks don't recognize the Sberbank -> UBS transfer since it's not on SWIFT." That makes no sense. SWIFT is just messages sent between banks, other banks don't know what messages are sent between two other banks. |
|
|
Disagree with what exactly?
Because, as far as I can tell, your contribution has been to nitpick a hand wavey explanation. Unless you have an objection to my fundamental point that No SWIFT means No Dollar transfers then I don't see what you're contributing here.