14 Hrs
Source:
الجزيرة نت
Source: الجزيرة نت
14 Hrsالجزيرة نت
Source: الجزيرة نت
14 HrsReady to play
Ready to play
The episode explains that SWIFT transmits payment instructions but does not hold funds or settle transactions. Completing a transfer requires accounts and relationships between banks, sufficient balances, and institutions’ acceptance of the transaction. So the ability to disrupt payments is not limited to controlling the network; it also involves laws and pressure on banks concerned about losing access to the U.S. financial system. In 2014, BNP Paribas agreed to a settlement of about $8.97 billion for violating sanctions. The episode concludes that alternatives such as Russia’s SPFS provide messaging, while China’s CIPS offers clearing and settlement in yuan—but neither, on its own, guarantees that a currency will be accepted or a payment carried out.
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