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Author Topic: if they kick Russia out of SWIFT...  (Read 1026 times)
conspirosphere.tk (OP)
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August 30, 2014, 08:29:54 AM
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...then Russia may find bitcoins appealing (?)

http://www.bloomberg.com/news/2014-08-29/u-k-wants-eu-to-block-russia-from-swift-banking-network.html

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The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said.
The Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, is one of Russia’s main connections to the international financial system. Prime Minister David Cameron’s government plans to put the topic on the agenda for a meeting of EU leaders in Brussels Aug. 30, according to the official, who asked not to be named because the discussions are private….
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EternalWingsofGod
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August 30, 2014, 08:34:54 AM
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If Russia got kicked out of Swift Russia has Webmoney
They have a lot of alternatives unlike Iran so it wouldn't bug them so much they barely tolerate Mastercard  and Visa as it is Smiley
http://rt.com/business/183124-russia-deadline-visa-mastercard/

That said bitcoin is awesome as well.

___

In March, Visa and MasterCard suspended service to a number of Russian banks which fell under US sanctions.

Responding to the move President Vladimir Putin signed a law in May to establish a national payment system.

The law requires foreign payment systems to be charged 25 percent of an average profit on transfers during one calendar day in Russia, to be paid each quarter to the Central Bank.

Soon after the new law was signed, Visa and MasterCard were told to pay deposits amounting to about $3 billion in “security fees”, which could be used to pay fines for the suspension of serving banks.


The payment systems lack some functionality with online trading, but “its share is around 1.5 percent of all transactions,” Moiseev added.

I love Russia sometimes

On the other hand

http://en.wikipedia.org/wiki/WebMoney

WebMoney Transfer commonly known as WebMoney is a global settlement system and environment for online business activities, established in 1998. The system claims to have more than 25 million users

WebMoney transactions do not require a credit card or bank account, are final, and cannot be retracted. This is similar to Bitcoin, e-gold and cash and in contrast to credit card.

WebMoney Transfer offers a list of security settings for users to protect their accounts.

##WebMoney isn't integrated into an international financial system. It doesn't accept Western Union or Paypal transfers. There are some third parties offering such services for commission fees.

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August 30, 2014, 09:57:08 AM
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It is mainly western companies that benefit from trade from Russia.

If they cut Russia off, they cut off western companies in Russia also.
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