What is SWIFT and why isn't Russia being banned from it?

Western leaders have hit Russia with a series of sanctions following its invasion of Ukraine.

One of the options not being imposed at the moment is banning Moscow from SWIFT.

But what is SWIFT, why is it so important to international global trade, and why is Russia not being excluded from it?

[skalman]

Not blocking swift is like stocking your house with valuables but leaving the door unlocked. Absolutely unacceptable.

[talesoftorque]

You'd think those countries would have a moral conviction to be allied to impose every possible sanction, given their former axis status. Do the right thing.

[TheAnriii]

This is the only sanction that I was looking forward to, others aren't really doing anything. It is this or direct military aid that can help

[SCH]

See? Germany hasn't changed since the 1930s and Italy is already switching sides.

[rtk]

Trump said the EU was too dependent on Russian trade and he was right.

[LUNE.]

I think they are being kicked out now. Italy, Cyprus and Hungary have now all agreed, meaning all EU countries have agreed to ban Russia from SWIFT

[nintendokings]

Shame on Germany, Italy, and Belgium!

[avarmauk]

Block them from SWIFT regardless of the impact. If we are so against pain, how are we to fight a war?

[tafadzwavhurinosara]

Why can't we all pay the cost? It's better for the world to pay the economic cost and stop a dictator from invading a nation.

[RR-uskp]

Germany, Italy and Belgium showed their loyalty very clearly. If this was France or UK or even each other instead of Ukraine, they'd still watch and do nothing.
Utterly shameful.

[Dante]

"The largest and most severe package"
- Boris Johnson 2022

[bigmojito]

only channel holding accountability against the rest of the west really appreciate it

[Mulnader]

I wonder if Russia signed with Germany "Molotov–Ribbentrop Pact: 2022 Edition"

[SubjectiveFunny]

Amazing how everyone is a geopolitical expert all of a sudden... Similar to how everyone became an epidemiologist after COVID... Strange..

[MotivationInvest]

If they stop the payments, they can just use Bitcoin lol

[sergiofilipps]

The G7 should get together and write their wishes on the asphalt with piece of chalk... )))

[gracie]

Everyone is worrying about their interests more than punishing the tyrant dictator, it's a disgraced.

[joshuaadams]

Either deliver on all the sanctions or deliver more military force!! Time is important and Ukraine is running out.

[Rickonytube]

Countries can no longer let greed and selfishness blind the threats to global peace and security, period.

[blameyou]

Nothing will stop Russia from defending their borders from NATO getting closer