A Russian attack on Ukraine would trigger some US financial sanctions
But they might not include ending access to the Swift system.
Most economic sanctions used by US presidents are implemented under the International Emergency Economic Powers Act
The list is maintained by the Office of Foreign Assets Control of the US Treasury.
“Swift is just one mechanism. There are other means to do direct payments between banks. They could go back to using telexes, as they did in the past.”
John Dizard FT 10 December 2021
https://www.ft.com/content/21a9b239-f68c-4821-9586-8d60b8c044f0
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