U.S. And Allies Begin Cutting Russia Out Of International Financial System SWIFT

The U.S. expects the move to cause "most banks around the world [to] simply stop transacting altogether with Russian banks that are out of SWIFT," the official added, saying the list of affected banks would be released soon and will ultimately be determined by the European Union because Belgium administers the SWIFT system. The official noted that China, from which Russia has sought support despite the Chinese leadership's uncertainty [?] about Putin's plans, "has tended to respect the force of U.S. sanctions."

mmmm, ahhhh, hmmm, if NYFed and BoE history of arbitrary asset forfeitures wasn't enough disincentive, this pirate parlay will dispel deposit incentives for many a "trade partner" besides RU and China. I will file this episode in my NEW! NATO self-sanctioning folder with settlement of the Meng Wanzhou caper and Evergrande's "restructure".

reference
Russia Total External Debt
Bank of Russia | Estimated actual external debt payments of non-financial organisations in 2022 H1
SAFE Releases China's External Debt Data a/o Sep 2021, pub'd 31 Dec 2021