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They will become pariahs financially speaking. Nobody will be authorized to wire money to/from them. It's brutal.
by apopapo 21d ago
They will become pariahs financially speaking. Nobody will be authorized to wire money to/from them. It's brutal.
- mdp2021 21d ago> Nobody In the USA - the consequences should be only related to USA pertinent actors. The newspapers in Italy say, "there is no judgement against them in Italy".
- cloudie78 21d agoThe same mechanism that was used to sanction Russia, Iran - will be used to sanction A/I Collective.
- polski-g 21d agoIf Italy doesn't shut down their services, the Italy itself will be shut out of SWIFT.
- 2legit2quit 21d ago>...then* Italy itself will be shut out of SWIFT. SWIFT is headquartered in Belgium. Only 2 banks out of the total 24 on the board of directors is US banks. Unless there's a hostile takeover of the SWIFT organisation by the US, I think this is a bit of a stretch. (Plot-twist: Italy is on the board of directors.)
- polski-g 21d agoSWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I.
- 2legit2quit 21d ago> SWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I. A US sanction is neither a local (to all of SWIFT) or international law. The question still stands.
- marcosdumay 20d agoSWIFT refused to shunt out the Brazilian banks that kept providing services to the public figures involved on the Bolsonaro trial last year.
- polski-g 20d ago"Brazilian banks" were never classified as Foreign Terrorist Organizations. It is a specific designation and law that comes with 20 year prison sentences.
- marcosdumay 20d agoAre you expecting Italian banks to be classified as terrorist organizations?
- mdp2021 21d ago> Italy itself will be Because of a decision from the USA administration? ?!
- inigyou 20d agoYes. It's the same mechanism that was used against Russia and Iran.
- epolanski 20d agoI doubt this is how it works, besides, swift is an international organization, not a US one. US laws and sentences does not apply beyond US borders unless differently agreed.
- Nemo_bis 20d agoItalian banks immediately apply US sanctions because they are scared they'd be cut off SWIFT. Banca Etica, A/I's bank, previously refused to open a bank account to Francesca Albanese. https://www.bancaetica.it/banca-etica-chiede-alle-istituzioni-italiane-ed-europee-di-attivarsi-per-rimuovere-le-inaccettabili-sanzioni-usa-a-francesca-albanese/ https://www.bancaetica.it/banca-etica-chiede-alle-istituzion...