Let me be very clear. I oppose what Russia is doing, but the use of very crude sanctions and Swift as a weapon has opened a Pandora’s box of collateral damage.
Last week, I discussed the potential for secondary Swift (short for the Society for Worldwide Interbank Financial Telecommunication) sanctions to impact business even though they were not directly involved with Russia. I’m sure that some readers dismissed this as unlikely to impact their business activity with China.
However, events in the past week have both exposed this vulnerability and highlighted the issue of foreign interference in the internal sovereign affairs of other countries.
