Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-t8hqh Total loading time: 0 Render date: 2024-11-23T14:11:00.625Z Has data issue: false hasContentIssue false

3 - The Financial Sanctions and Impact on the Global Financial System

Published online by Cambridge University Press:  14 December 2023

Christine Abely
Affiliation:
New England Law, Boston
Get access

Summary

This chapter provides an in-depth look at how the sanctions regulations have affected finance and currency flows around the world. It examines SWIFT, the inter-bank worldwide messaging system, and how certain Russian banks were eventually banned from the platform. The chapter discusses correspondent banking, in which banks hold accounts for each other, and payment systems, which serve a variety of functions including facilitating the conversion of currencies. It examines how the sanctions disrupted the ability of Russian banks to carry out business using these tools.

Type
Chapter
Information
The Russia Sanctions
The Economic Response to Russia's Invasion of Ukraine
, pp. 27 - 39
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×