The blacklisting of Iran from international financial messaging system SWIFT serves as a warning to Washington’s enemies, but will hasten the demise of the dollar, stockbroker-turned broadcaster Max Keiser told RT. SWIFT, a system that facilitates cross-border payments between 11,000 financial institutions in more than 200 countries worldwide cut several Iranian banks, including the country’s […]
In pushing the SWIFT financial messaging system to exclude Iran, the US has “gone rogue,” economist Steve Keen told RT. SWIFT cut a raft of Iranian banks – including the country’s central bank – off from its system on Monday, having come under pressure from the US to do so.
The list of the countries currently taking active steps towards eliminating their economic reliance on the US dollar is growing. Russia has joined a league of nations is making a lot of headway with the task, the WSJ reports.
The Iranian Central Bank has been cut off the SWIFT financial messaging system, the US Treasury Department has said. Disconnection makes it more difficult for the Islamic Republic to settle import and export bills.
A new study by top economists and experts found that tax avoidance and evasion translate into hundreds of billions of dollars in unpaid taxes every year, with the money ending up in the pockets of the world’s wealthiest people.
As the United States continues to slap Iran with sanctions, Washington allowed several countries, including South Korea, to purchase certain limited amount of Iranian oil without fear of reprisal. The governments of Iran and South Korea have agreed to forgo the use of US dollar in bilateral trade and instead switch to their respective national […]
Chip-enabled credit cards, introduced to consumers in the US in 2015, were intended as added security against fraud, but have failed to live up to the promise, according to a new study. Rampant credit card fraud in the US prompted a rollout of chip-enabled credit cards in 2015, intended to stop, or at least limit […]
German conservative Friedrich Merz said Thursday that Brexit would have a major impact on continental Europe’s economy. He added that Brexit was the biggest threat the EU could be facing at the moment but didn’t hope to see another referendum in the UK.
Russia’s money transfer system, developed as an alternative to SWIFT is now more popular than the global network, said Anatoly Aksakov, head of the Russian parliamentary committee on financial markets.
US threatens to smack SWIFT if it allows transactions in violation of Iran sanctions. US Treasury Secretary Steven Mnuchin has warned global financial messaging service SWIFT on Friday that it could be penalized if it doesn’t cut off financial services to entities and individuals doing business with Iran.
The latest data from the World Gold Council (WGC) shows that central banks in Eastern Europe and Asia significantly boosted their gold holdings. The regulators purchased 148 metric tons of gold in the third quarter of 2018.
Central banks around the world are increasing their gold reserves at an incredible pace. Over the last three months alone, they have purchased gold worth 5.82 billion dollars, which is roughly a quarter more than the year earlier. It is noteworthy that the Bank of Russia and the Turkish Central Bank have broken a record […]
Libya has been in turmoil since the ouster of its long-time leader Muammar Gaddafi in 2011. Its eastern part is ruled by the country’s parliament, supported by the Libyan National Army, while the UN-backed Government of National Accord headed by Prime Minister Fayez Sarraj operates in the country’s west.
Good financial results shown by Russian companies may facilitate the return of foreign investment to the country, Moody’s senior vice president Kristin Lindow told Sputnik news agency. “…Recent strong corporate profits quite naturally can result in repatriation of profits by foreign investors. Also, the cleanup that the CBR (Central Bank of Russia) has done in […]
A joint report by UBS and PWC showed that world’s billionaires’ wealth enjoyed its greatest-ever increase last year, hitting $8.9 trillion shared among 2,158 individuals. The past 30 years have seen far greater wealth creation than the Gilded Age” the report said. “That period bred generations of families in the US and Europe who went […]