American sanctions and threats to exclude countries from payment systems like SWIFT are hastening the superpowers’ decline and reducing the leverage of the dollar. Recent comments from Kiev have only served to highlight this.
Leonid Kravchuk, the first president of Ukraine (1991-94) and the current head of the Ukrainian delegation to the Trilateral Contact Group set up to end the war in Donbass, has threatened Russia with exclusion from the SWIFT international payment network unless there was progress on a resolution of the conflict. These are strong words, which may or may not be a bluff.
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