U.S. Contemplating Isolating Russia from SWIFT Banking System

[paxmao]

Under all these issues there is an underlying belief from Russia or at least a large part of the Russian people that the USSR was de-facto Russia controlling all the republics under an illusion of partial decentralisation and also that now, even though the USSR does not exist as such, countries such as Ukraine and other are still a satellites of Russia and their citizens have nothing to say on regards of how they are run and how they want to play their international relations. This is a wake up call for the despots.

[1714735568]

1714735568

[1714735568]

1714735568

[1714735568]

1714735568

[1714735568]

1714735568

[1714735568]

1714735568

[S A KHAIR]

If you keep up with world news, you know there are some serious tensions between Russia and Ukraine.
<>

You discussed worldwide are potential SWIFT connections and Russia's economic impact,
Well,  first you need to know what is SWIFT?
According to investopedia:

SWIFT is a huge messaging network used by banks and other financial institutions to exchange information quickly, accurately, and securely.

Source: https://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp

The issue of US sanctions against Russia is not new, And it is in this conflict that US President Joe Biden has called for Ukraine to be removed from Russia, And it is known that Russia may be excluded from Swift if such sanctions are imposed on Russia. However, it will have a major impact on the Russian economy.

[stompix]

I always thought SWIFT was just a large inter Bank accounting system. So instead of transferring small amounts ..every time when there are international transactions.... the Banks collect the data from all transactions being made and then collectively balance the books for all those transactions. (A type of reconciliation for International Bank Settlements) 

You almost got it right till the last step,  Society for Worldwide Interbank Financial Telecommunication , the telecommunication part is the giveaway in what SWIFT does, but as you have realized the difference is enormous when it comes to creating an alternative, it's not about demanding payments from somebody in a different coin, is making your partner's bank entering settlements with all the bans in your alternative system.

Why would they? No reason!
A ban would do that only if it has a huge outgoing and incoming volume there, but since the trade Russia has with other countries is limited, there is no need for immediate settlements, especially since bot Gazprom or Rosneft wouldn't make foreign payments.

No one would threaten to disconnect from SWIFT if it were a simple transactional system. In fact, this is a much broader system, without which even entire segments of the economy of a country or region can simply stop working. Remember Iran? How is it "simple banking system" nearly returned Iran to the Stone Age.

There are still delusional poeple who claim Iran is a superpower...
And they don't realize they are on the same level as Poland.

This is a wake up call for the despots.

Nope, nothing is going to happen.
While Ukraine and Belarus do have a chance because of their ties with Europe, counties in Asia have nowhere to look for a model, look at all the -stan countries and their leaders
Uzbekistan, Karimov was president from 92 till 2016 (when he died)
Tajikistan, Rahmon elected 5 times a president
Turkmenistan, Niyazov from 85 till his death, Berdimuhamedow since 2007, elected with 100%
On what model can they take from? Russia? China? There is no influence near them there is no trade no exchange of information, no nothing.
They will stay like this in the dark till the countries collapse completely.

[DrBeer]

No one would threaten to disconnect from SWIFT if it were a simple transactional system. In fact, this is a much broader system, without which even entire segments of the economy of a country or region can simply stop working. Remember Iran? How is it "simple banking system" nearly returned Iran to the Stone Age.

There are still delusional poeple who claim Iran is a superpower...
And they don't realize they are on the same level as Poland.

Iran, before the Islamic Revolution, was quite a progressive country, which could be/become a very influential Asian center. But ... they decided to return to the "Stone Age", and then they decided to just start doing lawlessness. After that, all chances were lost, and now it is pointless to talk about the prospects of Iran! But Poland looks very promising, even against the backdrop of all these lockdowns and global problems due to the coronavirus. You have no idea what day Poland was in the 80s! I lived in Warsaw until 1979, and it was much better there than in the USSR, but then the destruction of the socialist economy, the collapse of the political system ... The Poles had to endure the most difficult decade, but they found strength in themselves, and now Poland is very noticeable in Europe a country with a dynamically developing economy, a good investment, and a fairly good standard of living ...

[Argoo]

Under all these issues there is an underlying belief from Russia or at least a large part of the Russian people that the USSR was de-facto Russia controlling all the republics under an illusion of partial decentralisation and also that now, even though the USSR does not exist as such, countries such as Ukraine and other are still a satellites of Russia and their citizens have nothing to say on regards of how they are run and how they want to play their international relations. This is a wake up call for the despots.

A very peculiar point of view. Why do you think that Ukraine is a satellite of Russia? Ukraine has been a sovereign independent state for thirty years, which is completely independent of Russia. Especially now, when a hybrid war has been going on between Ukraine and Russia since 2014 after Russia seized part of the territory of Ukraine through an armed invasion and killed about 14,000 Ukrainians on the territory of Ukraine. Therefore, today in Ukraine any ties with Russia as its enemy have been reduced to a minimum.

[DrBeer]

Under all these issues there is an underlying belief from Russia or at least a large part of the Russian people that the USSR was de-facto Russia controlling all the republics under an illusion of partial decentralisation and also that now, even though the USSR does not exist as such, countries such as Ukraine and other are still a satellites of Russia and their citizens have nothing to say on regards of how they are run and how they want to play their international relations. This is a wake up call for the despots.

Question - do you understand the word "satellite" in relation to the state structure? Or are you just repeating the words of Russian propaganda?
I explain:
1. "a formally independent state that is under the political and economic influence of another state and enjoys its protectionism in the international arena." - this is a description of the satellite countries.
2. Ukraine, like other republics of the USSR, was OCCUPIED and FORCED attached to the USSR.
By the way, why "attached"? Part in order to get resources (the entire Trans-Urals has an indigenous population that was partially or completely destroyed). In order to have intellectual potential (scientific centers were mainly in Ukraine, Belarus, ...). That is why in 2014-2015, from the territory of Ukraine, temporarily docked by Russia (LPR / DPR), about 20 Ukrainian technological plants were exported to Russia. True, it is possible to steal a plant, but the Russians didn’t have enough sense to use it, and they couldn’t fully benefit from the stolen
Which in general is proved both by facts from past history and by facts from modern history. And as practice has shown, those who were in the occupation of the republic, where there was a change of power, and there was no Soviet-Russian version of the rulers, live perfectly, develop, and achieve excellent results.

[paxmao]

If that is what they are trying to do then that is a big mistake, Russia has nuclear weapons and regardless of whatever technological advancements the US may have fighting an aggression war against Russia is a huge mistake, Empires have gone down do die on the cold of Russia, in a way it makes sense as when an Empire is in crisis historically it tries to find an enemy to unite their people and try to gain an economic advantage, but it is too dangerous to do this against Russia.

The question is not whether the Americans are able to fight the Russians. The real question is whether they can afford such a conflict. Look at what happened in Afghanistan, which is a third world country of 30 million people. After spending trillions of USD in funds, the Americans ran back to their homeland with their tails wagging between their legs. The same thing happened in Syria, Iraq and Libya as well. And here we are talking about an adversary who is stronger by the magnitude of 100x or 200x.

They cannot and wont go into an armed conflict - I hope nobody here is trying to ignore that there is chance that such conflict ends up on a nuclear war.

The US government just spent a lot of political capital on withdrawing from Afghanistan and their finance situation is far from good. However, Russia in not the USSR. The interlock between Russian economy and Western world economy is much stronger currently and that makes the case for using economic sanctions. Putin does enjoy quite a leeway on his autocracy, however he is suffering internal problems and may feel not that secure. Economic sanctions can be as lethal as open war.

In my view, either Europe and the US act or Ukraine will become a larger and worst case of Bielorussization.

[Sithara007]

They cannot and wont go into an armed conflict - I hope nobody here is trying to ignore that there is chance that such conflict ends up on a nuclear war.

The US government just spent a lot of political capital on withdrawing from Afghanistan and their finance situation is far from good. However, Russia in not the USSR. The interlock between Russian economy and Western world economy is much stronger currently and that makes the case for using economic sanctions. Putin does enjoy quite a leeway on his autocracy, however he is suffering internal problems and may feel not that secure. Economic sanctions can be as lethal as open war.

In my view, either Europe and the US act or Ukraine will become a larger and worst case of Bielorussization.

How do you want the West to act?

Right now, they don't have the capability to defeat Russia militarily. All they can do is to impose sanctions and embargoes. And as we have seen so far, these sanctions haven't worked in the past. As long as the oil/gas prices remain high, Putin will be able to afford invading other countries. And the replacement of Trump by Biden has actually helped in this. Biden banned fracking in federal lands and cancelled a few of the pipeline projects. And this was the main reason why the oil prices jumped from $40 per barrel during the Trump era, to the level they are now ($86 per barrel). Irrespective of what they claim, Joe Biden is the best thing that has happened to Russia in the last one decade.

It was Ronald Reagan who destroyed the USSR in late 1980s, by strategically decreasing the oil prices. The USSR ran out of money and it simply disintegrated. Trump followed the same approach, but these strategies were reversed by Biden.

[davis196]

If Russia gets cut out from the SWIFT,how the Russians are going to get paid for all the goods they are exporting and selling to the rest of the world?Gold,fiat cash or Bitcoin?Nah,Bitcoin is not an option.
I don't really think that Russia and the western world will go to war for Ukraine.A war means that both sides will lose and nobody is going to win.Putin is clearly bluffing against the west,because he doesn't have a plan B.
What's the plan B for Russia?Becoming China's puppet state and main supplier of fuels and raw materials,eventually becoming more and more dependent of the Chinese?
I think that Putin wants to keep all options available and he will agree to negotiate with the western world.

[DrBeer]

If Russia gets cut out from the SWIFT,how the Russians are going to get paid for all the goods they are exporting and selling to the rest of the world?Gold,fiat cash or Bitcoin?Nah,Bitcoin is not an option.
I don't really think that Russia and the western world will go to war for Ukraine.A war means that both sides will lose and nobody is going to win.Putin is clearly bluffing against the west,because he doesn't have a plan B.
What's the plan B for Russia?Becoming China's puppet state and main supplier of fuels and raw materials,eventually becoming more and more dependent of the Chinese?
I think that Putin wants to keep all options available and he will agree to negotiate with the western world.

You do not understand the psychotype of Russian politicians a little. The most suitable image is "gopnik". In slang, this means such a petty, cowardly, vile, not even a bandit, but a yard hooligan. He beats and offends the weak and harmless, children, old people. Maybe from behind the fence, shout an insult to the policeman or show "fuck", and then quickly run away, hide at home, and cowardly look out the window, afraid that the policeman will come. And if a healthy, strong man catches him for hooligan behavior, and begins to "drive in" explanations why it is not necessary to do this, this "gopnik" begins to squeal, cry, ask him to forgive, and generally complain that he is being abused. If you let him go, he runs away to a safe distance, starts screaming as if he had beaten this person, but regretted it, after which he again ran away to hide home
That's exactly what the Kremlin's policy is. What they do in slang is called "chasing show-offs", but for the soul and in reality they have nothing, they bark at the USA and other countries, do petty meanness, offend, ALWAYS WEAKER countries ... I am sure that in 2022 Russia will do the following:
1. Will try to raise the degree of tension in the east of Ukraine. Perhaps even full-fledged provocations and attempts to capture new territories.
2. It will begin to systematically carry out "small" diverse terrorist attacks - from economic ones, such as shortages of gas supplies to the EU, to technological ones - cyber attacks on infrastructure facilities, communication nodes and channels, etc.
3. Most likely, it will be an attempt to unleash a new war or military conflict, for a "small victorious war" - to raise Putin's nude image. Either a series of terrorist attacks in Russia, in order to limit the protest moods within Russia itself, or in order to pass them off as the machinations of "enemies".
4. At the same time, the sanctions and the reaction of the European hydrocarbon market to the idiotic actions of the Kremlin will further aggravate the economic crisis in Russia.

[oHnK]

If Russia gets cut out from the SWIFT,how the Russians are going to get paid for all the goods they are exporting and selling to the rest of the world?Gold,fiat cash or Bitcoin?Nah,Bitcoin is not an option.
I don't really think that Russia and the western world will go to war for Ukraine.A war means that both sides will lose and nobody is going to win.Putin is clearly bluffing against the west,because he doesn't have a plan B.
What's the plan B for Russia?Becoming China's puppet state and main supplier of fuels and raw materials,eventually becoming more and more dependent of the Chinese?
I think that Putin wants to keep all options available and he will agree to negotiate with the western world.

Indeed, the current state of relations between the two countries is very hot, due to the political interests of their respective countries. I do not think that Russia really wants to go to war with that country, because the war that will be carried out will not have a significant advantage and become an obstacle for their country to develop further. The economic conditions during the pandemic are also not good, especially at this time the alternative payment is still not perfect even though they have planned to find an alternative system for the threat posed by the US. Ukraine itself is quite sensitive to the condition of Russia which increases its war fleet. In fact, again, it is a personal Russian affair, it is natural for a country to strengthen its defense and security.

[DrBeer]

If Russia gets cut out from the SWIFT,how the Russians are going to get paid for all the goods they are exporting and selling to the rest of the world?Gold,fiat cash or Bitcoin?Nah,Bitcoin is not an option.
I don't really think that Russia and the western world will go to war for Ukraine.A war means that both sides will lose and nobody is going to win.Putin is clearly bluffing against the west,because he doesn't have a plan B.
What's the plan B for Russia?Becoming China's puppet state and main supplier of fuels and raw materials,eventually becoming more and more dependent of the Chinese?
I think that Putin wants to keep all options available and he will agree to negotiate with the western world.

Indeed, the current state of relations between the two countries is very hot, due to the political interests of their respective countries. I do not think that Russia really wants to go to war with that country, because the war that will be carried out will not have a significant advantage and become an obstacle for their country to develop further. The economic conditions during the pandemic are also not good, especially at this time the alternative payment is still not perfect even though they have planned to find an alternative system for the threat posed by the US. Ukraine itself is quite sensitive to the condition of Russia which increases its war fleet. In fact, again, it is a personal Russian affair, it is natural for a country to strengthen its defense and security.

Hot relationship?? Because of political interests?
Have you ever seen full-fledged hostilities, with the corpses of your friends, or just people who are not familiar to you and lived a simple, calm life? Namely, this is what the beginning of Russian aggression looked like! The capture and annexation of Crimea, and then the introduction of troops and the seizure of territories in eastern Ukraine. Shelling of peaceful villages and cities, murders, torture, kidnappings and looting. I would not want to see the same "hot" and "political interests" in your country. But in reality, this is not a declared, terrorist, predatory war unleashed by Russia against Ukraine. If you read history, Russia unleashed identical wars against Moldova, Against Georgia. Pro-Russian sewers have been created everywhere by analogy with the LPR / DPR.

[laredo7mm]

At minimum a country's population needs: food, water, shelter, education and human relationships - Russia should be able to provide all of these for itself and manage quite well at it.

I think that is the reason how large countries like Russia, the chain, and Iran still dominating even after the USA sanction. They can provide foods, water, and shelter even no foreign goods have been imported to these countries.

I think Russia, like China, went imperialist though recently which might be something that could cause issues for a lot of other countries - imperialism may be more efficient than capitalism and socialism under certain circumstances.

As Lenin said "imperialism is the highest stage of capitalism" and right now we are observing that in these two countries. So I think imperialism is the higher stage capitalism and they have a close relationship between them. In imperialism and capitalism, both way capitalist gets the most of the profit by capturing and market and the natural resource of a country. Even imperialism expand these areas for capitalists than capitalism and hurt the poor. Inequality in the working sector and too much power in the center create fear among the people of that area. Though in this way infrastructure of a country developed so much because capitalist wants more money so they expand and develop industries.

In my opinion, you are right. imperialism may be more efficient for a countries infrastructure and industries developments.

[paxmao]

They cannot and wont go into an armed conflict - I hope nobody here is trying to ignore that there is chance that such conflict ends up on a nuclear war.

The US government just spent a lot of political capital on withdrawing from Afghanistan and their finance situation is far from good. However, Russia in not the USSR. The interlock between Russian economy and Western world economy is much stronger currently and that makes the case for using economic sanctions. Putin does enjoy quite a leeway on his autocracy, however he is suffering internal problems and may feel not that secure. Economic sanctions can be as lethal as open war.

In my view, either Europe and the US act or Ukraine will become a larger and worst case of Bielorussization.

How do you want the West to act?

Right now, they don't have the capability to defeat Russia militarily. All they can do is to impose sanctions and embargoes. And as we have seen so far, these sanctions haven't worked in the past. As long as the oil/gas prices remain high, Putin will be able to afford invading other countries. And the replacement of Trump by Biden has actually helped in this. Biden banned fracking in federal lands and cancelled a few of the pipeline projects. And this was the main reason why the oil prices jumped from $40 per barrel during the Trump era, to the level they are now ($86 per barrel). Irrespective of what they claim, Joe Biden is the best thing that has happened to Russia in the last one decade.

It was Ronald Reagan who destroyed the USSR in late 1980s, by strategically decreasing the oil prices. The USSR ran out of money and it simply disintegrated. Trump followed the same approach, but these strategies were reversed by Biden.

The west is doing the right thing. No concessions on the base of armed threats, as that would be then the way forward for any issue in the future. Please, note that when Putin really wanted to invade Crimea, there was no playing, discussion or negotiations. He just did it. Do you not wonder why this time he is just holding the horses right at the border? Even if he wins, he does not win. He may even invade Ukraine, he will not be better of than he was and he will have a complicated diplomatic stance with EU and US to deal with - including sanctions.

Use armed forces to stop Russia? I do not think that would a problem of having them, more of a problem of paying the bill financially and politically.

By the way, you are just mixing this with a theory by which the president of the US is in control of world oil prices? I wonder how that works from your point of view. The Reagan area was far less complex and the US had far more power in comparison.

Under all these issues there is an underlying belief from Russia or at least a large part of the Russian people that the USSR was de-facto Russia controlling all the republics under an illusion of partial decentralisation and also that now, even though the USSR does not exist as such, countries such as Ukraine and other are still a satellites of Russia and their citizens have nothing to say on regards of how they are run and how they want to play their international relations. This is a wake up call for the despots.

A very peculiar point of view. Why do you think that Ukraine is a satellite of Russia? Ukraine has been a sovereign independent state for thirty years, which is completely independent of Russia. Especially now, when a hybrid war has been going on between Ukraine and Russia since 2014 after Russia seized part of the territory of Ukraine through an armed invasion and killed about 14,000 Ukrainians on the territory of Ukraine. Therefore, today in Ukraine any ties with Russia as its enemy have been reduced to a minimum.

No, I do not consider Ukraine a satellite, what I am saying is that Putin kind of does. At least he likes to think of it as his backyard. Hybrid war... well you can choose your words, but it is not hybrid, simply undeclared. When Russia wants to take, they take.

Completely independent from Russia? - Sure, on the papers and on the declarations. I wish that were true. You see, that reads to me like saying that Panama is a sovereign country independent from the US. That is only true while US wants it that way.

[Ozero]

Now the political and military situation around the gangster actions of Putin and his entourage is inflated to the limit. Moscow’s reckless and brazen actions when Russia attacked Georgia in 2008 did not receive the proper reaction and actions from the world’s states, so Putin thought that everything was allowed to him and his further such actions would go unpunished. Therefore, in 2014, Putin sent his troops into Ukraine, occupying a significant part of its territory. And again, the reaction of Europe and the United States was very inadequate and amounted either to "deep concern" or to not very effective economic sanctions. Lately, Putin has been blackmailing Europe and NATO, threatening to use military force as well.
 The rest of the world has finally realized that this can affect them too, and therefore Putin's blackmail has recently received a worthy response and rebuff. Now Putin is backed into a corner, because Russia does not have enough economic or military resources to fight the rest of the world.
The outcome of the current tensions will be resolved in the next month and a half, after which the situation will return to normal, and Putin and Russia as a whole will get what they deserve.

[DrBeer]

Now the political and military situation around the gangster actions of Putin and his entourage is inflated to the limit. Moscow’s reckless and brazen actions when Russia attacked Georgia in 2008 did not receive the proper reaction and actions from the world’s states, so Putin thought that everything was allowed to him and his further such actions would go unpunished. Therefore, in 2014, Putin sent his troops into Ukraine, occupying a significant part of its territory. And again, the reaction of Europe and the United States was very inadequate and amounted either to "deep concern" or to not very effective economic sanctions. Lately, Putin has been blackmailing Europe and NATO, threatening to use military force as well.
 The rest of the world has finally realized that this can affect them too, and therefore Putin's blackmail has recently received a worthy response and rebuff. Now Putin is backed into a corner, because Russia does not have enough economic or military resources to fight the rest of the world.
The outcome of the current tensions will be resolved in the next month and a half, after which the situation will return to normal, and Putin and Russia as a whole will get what they deserve.

Unfortunately, stabilization is still far away, and will be far away. It is necessary to understand one simple, but very important thing. Kremlin policy is not Putin. Putin is a collective image of the "leader of the nation in the Russian way" - vile, deceitful, cowardly, with a sickly fantasy and manners of the "ruler of the universe", a defective copy of Hitler.
No, Putin is not evil, Putin is just the physical realization of the dreams of Russians. If you remove it now (they can even do it themselves), tomorrow they will choose exactly the same one, they will continue to sit up to their necks in shit, and "proud of greatness" and the fact that "everyone is afraid of them"
The end of rashism will come with the division of Russia into independent, liberated republics, and provided that the Russian politicians / generals / and their servants who are responsible for what has happened over the past 30-40 years will be identified, caught and severely punished. Believe me, a world evil was born a century ago - German Nazism. Tens of millions of people became its victims. But after the destruction of Nazism, the world missed the birth of an even more terrible regime, which even before Nazism destroyed more people, and then many more tens of millions of people. RASHISM! It is the cancer of the modern world. There are already metastases, and the question of fighting such a disease is only in the complete destruction of the cells of this disease, otherwise nothing will work ....

If you are not a Russian speaker, you will find it hard to believe. But it is enough to look at the rhetoric on all TV channels, to listen to ordinary residents - most of them consider the whole world to be freaks and underhuman. They really want to destroy, enslave, steal and appropriate. This is their genetic habit. Find a Russian speaker, turn on their TV programs from the main channels (alternative ones have not been there for a long time), and ask them to translate for you. Stock up on heart medication...

Therefore, I believe that the United States has chosen the right path, economic strangulation sent the parent of this monster, the USSR, to the next world. I hope his geek will also destroy him, but this time no one will help them preserve and restore the country ... They, the bearers of rashism, do not know what gratitude, honor and dignity are

[Obito]

Russia would definitely create their own banking system and I am pretty sure that they will force their will upon other countries because they are a superpower after all, I am pretty sure that they won't be easily intimidated by that threat, they're one of the main participants in Cold War and I am sure that this threat is nothing to them especially with Putin still on the seat of power, he won't be budging easily.

[DrBeer]

Russia would definitely create their own banking system and I am pretty sure that they will force their will upon other countries because they are a superpower after all, I am pretty sure that they won't be easily intimidated by that threat, they're one of the main participants in Cold War and I am sure that this threat is nothing to them especially with Putin still on the seat of power, he won't be budging easily.

As history and facts show, apart from nasty things, Russia cannot do something normally. And even more so its banking FULL system, with payments and other things. At least because Russia is a technologically backward country. It is not without reason that one of the parts of the sanctions is a ban on the supply of technologies and technological equipment. What would you understand - being an oil and gas "monster" country, Russia does not have its own technologies for developing oil and gas fields, except for those with surface occurrence. All other production, all the time, is realized only with the help of foreign equipment and technologies! What banking systems? What is the imposition of one's will? Forbid them to use Western technologies, and in 2-3 years they will fall apart, and again, out of habit, they will beg for food from the USA and others

One question - what is NEW, PROGRESSIVE, what the whole world uses, has been created in Russia over the past 30 years?

UPDATE

About sanctions that have not yet been applied, but only promised:
1. The Moscow Exchange Index collapsed by 6.5%. Shares of leading Russian companies fell from 5 to 10%
2. Government shares collapsed, and the National Welfare Fund. The fund lost about 750 billion rubles in 2 days. The total losses of the Russian budget in 2 days amounted to about 2 trillion rubles ...
3. Germany's attempt to play into the hands of Russia only made things worse. After the publication in the German press, information that "the Western allies decided not to disconnect Russia from SWIFT." A few hours later they were refuted by the OFFICIAL statement of the USA, which immediately caused a reaction - a collapse on the Russian stock exchanges.

[stompix]

Russia would definitely create their own banking system and I am pretty sure that they will force their will upon other countries because they are a superpower after all, I am pretty sure that they won't be easily intimidated by that threat, they're one of the main participants in Cold War and I am sure that this threat is nothing to them especially with Putin still on the seat of power, he won't be budging easily.

Russia is not the USSR!

The difference is of 15 states less, with a drop of the population from 280 million to 147 million, in 1989 USSR's economy was 2.5 trillion while the US was at 4.8. Now, Russia has 1.5 trillion, the US 20 trillion, the EU 17.
Before 1989 the USSR could rely on the Warsaw Pact, East Germany has joined West Germany, Romania, Bulgaria, Poland, Slovakia, Czech Republic,  Hungary have all joined Nato and the EU.

Russia has nowhere near the power or the influence the USSR had, and apart from bullying its neighbors and threatening with the only thing they can "produce", oil and gas there is nothing, absolutely nothing.

Who would use this system and why? Tell me any economical reason for some company that does 100 billion in the EU and 10 cents in trade with Rusia to adopt it.

How do you want the West to act?
Right now, they don't have the capability to defeat Russia militarily.

And Russia has the capability of defeating the west? Lol...
Neither Russia nor the USSR nor the Russian Empire has ever fought alone against the whole of Europe,  two hundred years ago or right now, even the idea is just ridiculous.

[DrBeer]

Russia would definitely create their own banking system and I am pretty sure that they will force their will upon other countries because they are a superpower after all, I am pretty sure that they won't be easily intimidated by that threat, they're one of the main participants in Cold War and I am sure that this threat is nothing to them especially with Putin still on the seat of power, he won't be budging easily.

Russia is not the USSR!

The difference is of 15 states less, with a drop of the population from 280 million to 147 million, in 1989 USSR's economy was 2.5 trillion while the US was at 4.8. Now, Russia has 1.5 trillion, the US 20 trillion, the EU 17.
Before 1989 the USSR could rely on the Warsaw Pact, East Germany has joined West Germany, Romania, Bulgaria, Poland, Slovakia, Czech Republic,  Hungary have all joined Nato and the EU.

Russia has nowhere near the power or the influence the USSR had, and apart from bullying its neighbors and threatening with the only thing they can "produce", oil and gas there is nothing, absolutely nothing.

Who would use this system and why? Tell me any economical reason for some company that does 100 billion in the EU and 10 cents in trade with Rusia to adopt it.

How do you want the West to act?
Right now, they don't have the capability to defeat Russia militarily.

And Russia has the capability of defeating the west? Lol...
Neither Russia nor the USSR nor the Russian Empire has ever fought alone against the whole of Europe,  two hundred years ago or right now, even the idea is just ridiculous.

Today, Russia is not even the "pale shadow" of the USSR, it is the decaying corpse of the USSR. The entire economy is built on the residual elements of the economy of the USSR, and nothing fundamental, since the collapse of the USSR, the RSFSR, it is the Russian Federation, has not created anything new!
Regarding the conduct of wars - Russia, NEVER, attacked those who would be commensurate in strength! The objects of Russian terror have always been countries that are guaranteed to be unable to fight back and defend themselves! Being technologically backward, vile and cowardly, military operations are always conducted against the civilian population, the purpose of which is to TERROR and morally suppress the civilian population. There are a lot of examples - Ichkeria, Georgia, Syria, Libya, ..... Hospitals, residential areas, schools bombed from a height - is it waging war? No, this is TERRORISM! Vile, cowardly, deceitful terrorism. That is why, yesterday, at the talks, Russia was "dipped headlong into the toilet", stopping their flow of hysterics, ultimatums, and threats.