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Kicking Russia Off of SWIFT if It Invades Ukraine Might Not Be the Nuclear Option

Mount Equity Group Tokyo Japan > News > Markets > Kicking Russia Off of SWIFT if It Invades Ukraine Might Not Be the Nuclear Option

At a congressional hearing on Tuesday, the chairperson of the Senate Foreign Relations Committee fired a shot across the bow at Russia as it amassed forces near Ukraine’s borders: Invade Ukraine, and we’ll destroy your economy. 

“I want to be crystal clear to those listening to this hearing in Moscow, Kyiv, and other capitals around the world: A Russian invasion will trigger devastating economic sanctions, the likes of which we have never seen before,” Sen. Bob Menendez said.

The warning reflected growing alarm in Washington that Russia was staging its forces for a second invasion of Ukraine—one that could be far bloodier and more drawn out than in 2014. But with U.S. President Joe Biden ruling out the possibility of a U.S. military deployment to Ukraine, it also underscored how sanctions have become the primary weapon of choice in Washington’s response to Russian aggression.

At a congressional hearing…

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