THE USE OF SWIFT AS A SANCTIONS TOOL:
HOW DE-DOLLARIZATION OFFERS NEW PATHWAYS FOR SANCTIONED COUNTRIES
Keywords:
Sanctions, SWIFT, Russia, China, USAAbstract
Abstract: The International Financial System has advanced payment tools that enable fast and integrated transactions, which are essential for the global economy. However, this integration also reflects the hegemony of the United States, which uses the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as a strategic instrument of economic power, especially through sanctions. This article investigates the impacts of these sanctions on affected countries and analyzes the responses developed to mitigate dependence on the dollar, with a focus on Russia and China. The research, conducted using a qualitative methodology based on official data, articles and institutional reports, shows that these countries have implemented alternatives, such as their own payment systems and greater use of national currencies in international transactions. These measures not only reduce their vulnerability to the US-dominated financial system, but also challenge the dollar's long-term hegemony. The results indicate that Russia and China's initiatives strengthen their economic capacities and influence transformations in the dynamics of the International Monetary and Financial System, contributing to a broader debate on questioning the hegemony of the dollar, the discussion on multipolarity and the challenges to the hierarchy established by the United States.
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