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Should the worst happen and the Russians invade, I suspect that many rich Russians in the UK will be part of the proposed sanctions, could this affect our foes down the road?
favourite cheese mature Cheddar. FFS there is no such thing as the EPL
Russia, Ukraine & Abramovich on 23:13 - Feb 26 by CliveWilsonSaid
Sounds like SWIFT is a load of made up bollox then. Funny how we'd never heard of it til now.
SWIFT started in 1973. If you look at your bank statements, the SWIFT transfer number for your account will appear somewhere near the top. You probably won't ever have used it unless you have needed to transfer money to or from someone overseas. It seems to be quite a rigorous system, and payments can get refused, in my limited experience.
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Russia, Ukraine & Abramovich on 23:26 - Feb 26 with 3403 views
Russia, Ukraine & Abramovich on 23:22 - Feb 26 by GloryHunter
SWIFT started in 1973. If you look at your bank statements, the SWIFT transfer number for your account will appear somewhere near the top. You probably won't ever have used it unless you have needed to transfer money to or from someone overseas. It seems to be quite a rigorous system, and payments can get refused, in my limited experience.
No I've never had to transfer money overseas. Probably why I've never heard of it.
Here's a bit more info on It from the beeb, (learn something every day sort of thing)
The EU, US and their allies have agreed to cut off a number of Russian banks from the main international payment system, Swift.
"This is intended to cut off these institutions from international financial flows, which will massively restrict their global operations," a German government spokesman said.
Russia is heavily reliant on the Swift system for its oil and gas exports.
But the move could also harm Western businesses doing business with Russia.
Swift, or the "Society for Worldwide Interbank Financial Telecommunication", is a secure messaging system that makes fast, cross-border payments possible, enabling international trade.
The banks set to be affected are "all those already sanctioned by the international community, as well as other institutions, if necessary", the German spokesman said.
Ursula von der Leyen, president of the European Commission, said the allies would stop Russia from "using its war chest," by paralysing the assets of its central bank. They also agreed to freezing its transactions and prevent the central bank from liquidating its assets.
She added there would be a crackdown on so-called "golden passports" that "let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems".
UK Prime Minister Boris Johnson said Britain had taken "decisive action", tweeting: "We will keep working together to ensure Putin pays the price for his aggression."
The measures were agreed by the US, UK, Europe and Canada.
It is the latest round of sanctions to hit Russia since it launched an invasion of Ukraine this week.
Removing banks from Swift is deemed to be a severe curb because almost all banks use the system.
My Father had a profound influence on me, he was a lunatic.
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Russia, Ukraine & Abramovich on 23:49 - Feb 26 with 3324 views
Abramovich hasn't given up his ownership of the club, merely "stewardship" which has precisely zero legal meaning. Also, when looking at sanctions it's not simply a case of who owns what shares, it also considers who has "significant influence".
Whilst this announcement got the usual enthusiastic response from his club's fans and the f*ckwits at Sky - precisely the people it was aimed at, of course - it is completely meaningless.
Russia, Ukraine & Abramovich on 23:26 - Feb 26 by CliveWilsonSaid
No I've never had to transfer money overseas. Probably why I've never heard of it.
Swift is like the overseas banks sort code. It also forms part of IBAN (effectively the account number and swift combined). You can’t make payment without one. SWift is also the name given for the “payment type” that companies make for international payments. I’m not sure what way round it would be for a legitimate (or a company that wants to be legitimate) company. Sure there is a way, I just don’t know it. I think it will likely hit Europeans more than the Russians but I still think it’s a good sign. Countries like Germany willing to take the “pain” to try in some way to get back at the new Hitler.
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Russia, Ukraine & Abramovich on 08:41 - Feb 27 with 2870 views
Russia, Ukraine & Abramovich on 03:38 - Feb 27 by nadera78
Abramovich hasn't given up his ownership of the club, merely "stewardship" which has precisely zero legal meaning. Also, when looking at sanctions it's not simply a case of who owns what shares, it also considers who has "significant influence".
Whilst this announcement got the usual enthusiastic response from his club's fans and the f*ckwits at Sky - precisely the people it was aimed at, of course - it is completely meaningless.
God I am glad I am not the only person that thought this.
It is a complete meaningless statement. ‘Stewardship’ wtf.
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Russia, Ukraine & Abramovich on 11:37 - Feb 27 with 2650 views
This could be a glimmer of hope. If there is a run on the banks in Russia, Putin might need all his troops to keep order and prevent a revolution at home:
Russia's central bank is appealing for calm amid fears that new financial sanctions could spark a run on its banks - that is, too many people trying to withdraw money.
In a statement, it said: "The Bank of Russia has the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector."
On Saturday, Europe, the US, the UK and Canada announced that the assets of Russia's central bank will be frozen. It has reserves of around $630bn (£470bn).
The sanctions against the Bank of Russia would stop it from selling assets overseas to support its own banks and companies.
Europe, the US and its allies have also announced that a number of Russian banks will be removed from Swift, the international payment system which is pivotal for the smooth transaction of money worldwide.
Analysts predict that on Monday, when most markets reopen, the value of the rouble will drop - and Russians may rush to remove their money from banks.
"These new sanctions are likely to cause serious damage to the Russian economy and its banking system", said Clay Lowery, executive vice president at the Institute of International Finance.
"This will most likely exacerbate ongoing bank runs...causing a sharp sell-off, and a drain on reserves."
Taken from the BBC
"Things had started becoming increasingly desperate at Loftus Road but QPR have been handed a massive lifeline and the place has absolutely erupted. it's carnage. It's bedlam. It's 1-1."
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Russia, Ukraine & Abramovich on 13:06 - Feb 27 with 2549 views
Surely the Russians will have budgeted for these sanctions, therefore they obviously have made arrangements to accommodate. It’s these alternative sources of income which must be identified and disrupted. I’d start with the gold market.
Its obviously absolutely impossible for us sitting over here to tell for sure but I really do wonder if this hasnt gone at all the way Vlad expected it.
- I dont think they expected the level of opposition at home - I think he genuinely thought Ukrainians would welcome them as "liberators" and not fight back
Interesting that Russia have blocked access to social media due to too many dead Russians appearing on it that people are seeing at home. Blocking it is probably pointless because people will always find ways around that.
I could of course also be talking bollocks but I think in some ways we're seeing the Russian Army isnt quite as fierce/competent as they are perceived to be.
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Russia, Ukraine & Abramovich on 14:26 - Feb 27 with 2405 views
Russia, Ukraine & Abramovich on 13:06 - Feb 27 by Boston
Surely the Russians will have budgeted for these sanctions, therefore they obviously have made arrangements to accommodate. It’s these alternative sources of income which must be identified and disrupted. I’d start with the gold market.
Disrupt the gold market?How would that work without shooting yourself in the foot? The Russians have got 40,000 tons of the stuff for starters. Just remember The Golden Rule -whoever holds the gold makes the rules.
Straight after posting that I read that Vlad has put his nuclear arsenal on 'special alert'. Dear Lord. Actually I think that's another sign things are backfiring on him at the moment. Lashing out. I would say 'he surely won't...' but then we've said that for a lot of things recently that he then 'surely has'...
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Russia, Ukraine & Abramovich on 14:29 - Feb 27 with 2395 views
Russia, Ukraine & Abramovich on 14:26 - Feb 27 by slmrstid
Straight after posting that I read that Vlad has put his nuclear arsenal on 'special alert'. Dear Lord. Actually I think that's another sign things are backfiring on him at the moment. Lashing out. I would say 'he surely won't...' but then we've said that for a lot of things recently that he then 'surely has'...
The Russian elite won't let him go nuclear.They have too much wealth scattered around the planet.
This will be the end of Putin one way or the other. Like all megalomaniacs, he's overestimated his own capabilities and like all dictators he's surrounded himself with cowering yes men too afraid to tell him things he doesn't want to hear.
Russia, Ukraine & Abramovich on 14:36 - Feb 27 by Boston
London is their clearing house though.
Yes,made that point sometime ago.Many tons of gold scattered around London vaults for safe keeping,same as the Autralians who own 74 tons of which 70 are in London. China has in all 60.000 tons which includes The White Dragon familes who have been accumulating the "shiny poo" for centuries.It won't be a shooting war,it'll be a financial one. I'm hearing that many ATMs are going down all over Europe,could happen here soon so would suggest getting some extra cash out just in case all you get is dust.
Russia, Ukraine & Abramovich on 14:47 - Feb 27 by Sonofpugwash
Yes,made that point sometime ago.Many tons of gold scattered around London vaults for safe keeping,same as the Autralians who own 74 tons of which 70 are in London. China has in all 60.000 tons which includes The White Dragon familes who have been accumulating the "shiny poo" for centuries.It won't be a shooting war,it'll be a financial one. I'm hearing that many ATMs are going down all over Europe,could happen here soon so would suggest getting some extra cash out just in case all you get is dust.
Can't remember the last time had actual cash in me pocket. everything now seems to be 'tippy, tappy' with a bank card.
Unless this 'Swift' thinghy will affect outside Russia as well.
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Russia, Ukraine & Abramovich on 16:43 - Feb 27 with 2134 views
Russia, Ukraine & Abramovich on 14:47 - Feb 27 by Sonofpugwash
Yes,made that point sometime ago.Many tons of gold scattered around London vaults for safe keeping,same as the Autralians who own 74 tons of which 70 are in London. China has in all 60.000 tons which includes The White Dragon familes who have been accumulating the "shiny poo" for centuries.It won't be a shooting war,it'll be a financial one. I'm hearing that many ATMs are going down all over Europe,could happen here soon so would suggest getting some extra cash out just in case all you get is dust.
Sorry, I'm guilty of only reading half the posts on most threads. Just recall seeing that 85% of all Euro gold is mined in Russia and that they have extensive interests in mining all around the globe. Gold will be bought and sold regardless of sanctions, the Middle East as final destinations or middlemen.
Russia, Ukraine & Abramovich on 14:17 - Feb 27 by slmrstid
Its obviously absolutely impossible for us sitting over here to tell for sure but I really do wonder if this hasnt gone at all the way Vlad expected it.
- I dont think they expected the level of opposition at home - I think he genuinely thought Ukrainians would welcome them as "liberators" and not fight back
Interesting that Russia have blocked access to social media due to too many dead Russians appearing on it that people are seeing at home. Blocking it is probably pointless because people will always find ways around that.
I could of course also be talking bollocks but I think in some ways we're seeing the Russian Army isnt quite as fierce/competent as they are perceived to be.
They’re out of practice.
[Post edited 27 Feb 2022 16:45]
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Russia, Ukraine & Abramovich on 16:49 - Feb 27 with 2114 views
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