Tag Archives: swift

South Korean shipbuilders all at sea over Ukraine, but could China benefit?

Russia’s invasion of Ukraine, which has added to disruptions caused by the ongoing coronavirus pandemic, has created increasing uncertainty for most industries, with shipbuilding one of them.South Korean and Chinese shipbuilders rank among the industry’s top players, and as tensions are growing, the impact of the geopolitical decisions made in …

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Ukraine war may ‘change trajectory’ of China’s moves away from US dollar

US Federal Reserve chair Jerome Powell said the Ukraine war could have the effect of accelerating China’s moves to develop alternatives to the current US dollar-dominated international payments infrastructure.Powell was questioned on Thursday in a US Senate Banking Committee hearing on how China might view the US-led efforts to isolate …

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Didi Global backtracks on decision to exit Russia as war in Ukraine heats up

Chinese ride-hailing giant Didi Global, which remains under a cybersecurity investigation by Beijing, has back-pedalled on its earlier decision to cease operations in Russia at a time when Western allies have started to close ranks against Moscow’s invasion of Ukraine.“Didi Chuxing will not shut down its operations in Russia,” the …

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How the West can use Swift finance system to punish Russia for Ukraine attack

An exclusion from Swift, a very discreet but important cog in the machinery of international finance, is one of the most disruptive of the possible sanctions that the West could deploy against Russia for its invasion of Ukraine.Ukrainian President Volodymyr Zelensky called Thursday for such a move after Russian forces …

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