A detailed explanation of exactly how the SWIFT network works for facilitating cross-border payments and the devastating impact it would have on Russia if they were banned from it. Plus, the reasons why countries are OPPOSED to banning Russia from SWIFT (for now).

00:00 Intro
00:50 What is SWIFT?
01:51 Before SWIFT was TELEX
02:57 SWIFT/BIC Code example
03:38 Nosto/Vostro Accounts
03:49 Cross Border Payment Example
04:16 Why cut Russia off from SWIFT?
05:22 Why are countries hesitating to ban Russia from SWIFT?

Ways to help the people of Ukraine:
Links from The Globe and Mail: https://www.theglobeandmail.com/world...
Links from NPR.org: https://www.npr.org/2022/02/25/108299...

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