SWIFT Payment Network

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The Focal Project via Wunderstock

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SWIFT is an international payments processing system. It is used by banks and financial institutions to process payments between each other. SWIFT also sets the standards for how these payments are processed. The Ban of Russia from SWIFT was a response to Russia's actions in Ukraine. This means that Russian banks can no longer use SWIFT to process payments. This could make it difficult for Russia to do business with other countries.