what is swift? the acronym stands for society for world wide inter bank financial telecommunication, a global network found to process international financial transactions. it's been around since 1973. 190 countries used the standardized system as well as banks and commodities and securities traders. last year, some 42000000 transactions were handled best swift every day. each swift member is identified by its bank identifier, court or big. the big ensures that money transfers are paid into the correct account. a big is familiar to any one with a bank card. it allows bank a in germany to carry out transactions with money. shares of precious metals with bank b in the u. s. ever big court is blocked. the member is shut out of swift. barring rushes, access to the swift network would sever the country completely from the international monetary flow. rushes companies would no longer be able to pay for or receive foreign goods. rush us trade, where the rest of the world would be suspended, but it means th

what is swift? the acronym stands for society for world wide into bank financial telecommunication, a global network found to process international financial transactions. it's been around since 1973. 190 countries used the standardized system as well as banks and commodities and securities traders. last year, some 42000000 transactions were handled best swift every day. each swift member is identified by its bank identifier, court or big. the big ensures that money transfers are paid into the correct account. a big is familiar to any one with a bank card. it allows bank a in germany to carry out transactions with money. shares of precious metals with bank b in the u. s. ever big caught is blocked. the member is shut out of swift. barring rushes, access to the swift network would sever the country completely from the international monetary flow. russia companies would no longer be able to pay for or receive foreign goods, rushes trade where the rest of the world would be suspended. but it means the

what is swift? the acronym stands for society for world wide into bank financial telecommunication . a global network founded to process international financial transactions. it's been around since 1973. 190 countries used the standardized system as well as banks and commodities and securities traders. last year, some 42000000 transactions were handled best swift every day. each swift member is identified by its bank identifier, court or big. the big ensures that money transfers are paid into the correct account and a in germany to carry out transactions with money. shares of precious metals with bank b in the u. s. ever big coat is blocked, the member is shut out of swift. barring rushes, access to the swift network would sever the country completely from the international monetary flow. rushes companies would no longer be able to pay for or receive foreign goods. rushes trade with the rest of the world would be suspended, but it means the trade in urgently needed goods from russia would also be in

this is bloomberg. ♪ >> swift, there are a lot of workarounds around swift. >> we think the later isll impact them. >> it was clear from the west that energy is off-limits. >> this is "bloomberg surveillance: early edition" with francine lacqua. francine: good morning and welcome to "bloomberg surveillance: early edition." the fighting in ukraine escalates

swift is more about the unintended consequences.ies you hurt, what people are going to do workarounds, how you fix that. the government itself once you have an open conduit for energy payments. there are a whole bunch of issues they have to work through. haslinda: that was j.p. morgan chase chairman and ceo jamie dimon speaking exclusively with bloomberg. coming up, the demand for bitcoin surges as russia seeks cryptocurrencies to evade sanctions. more on that. this is bloomberg. ♪ this is bloomberg. ♪ haslinda: all right. bitcoin back in focus. demand has exploded as the russian ruble collapses under a slew of sanctions. both the u.s. and ukraine are seeking help from major crypto exchanges in halting russian individuals and entities from using digital transactions to evade the sanctions. su keenan joins us with more. cryptos has been flying high since the weekend. su: this was initially unexpected because crypto's have now broken their ties to the s&p 500 while stocks have been down, they have been higher. let's look at the sea of

what is swift? the acronym stands for the site schieffer worldwide into bank financial telecommunication. the global network founded to process international financial transactions. it's been around since 1973. the system is used by banks and commodities insecurities traders in more than 200 countries. welski here some 42000000 transactions were handled by swift every day. the bank identify a code or big it shows that money transfers a paid into the correct account. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank is shout out of swift severing it from international monetary flow . many russian companies can no longer pay for or receive foreign goods. russia's trade with the rest of the world is restricted. but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices

what is swift? the acronym stands for the site schieffer worldwide into bank financial telecommunication. a global network founded to process international financial transactions. it's been around since $973.00. the system is used by banker and commodities insecurities traders in more than 200 countries. welski some 42000000 transactions were handled by swift every day. the bank identify a code or big it shows that money transfers a paid into the correct account. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank has shut out of swift, severing it from the international monetary flow. many russian companies can no longer pay for or receive foreign goods. rushes trade with the rest of the world is restricted, but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices

the government will decide how to use swift. swift says i cannot use communications.are different tools for different reasons. the banks are talking to the governments, so everyone understands the issues. war does not follow what you want. they have to be thoughtful on how they go about these. >> it is an important question on swift. that seems to be a concern. it could present real risk for the financial stability of the west. >> they could stop us from doing it by telling us, but the sanctions are targeted and clean. you can apply that in multiple ways that you cannot get around. we will do with the american government tells us to do. the unintended consequences, what countries you hurt, what people will do to work around, how you fix that. the government wants an open conduit for energy payments. dani: jamie dimon, ceo, jpmorgan chase speaking to bloomberg on russian sanctions and the swift messaging system. let's stay on sanctions, russia has banned its residents as putin seeks countermeasures over sanctions. joining us now is gavin proudley , head of third party

what is swift? the acronym stands for the society for world wide inter bank financial telecommunication a global network founded to process international financial transactions. it's been around since $973.00. the system is used by bank and commodities insecurities craters in more than 200 countries. well, scare some 42000000 transactions were handled by swift. every day. the bank identify a code or big ensures that money transfers a paid into the correct account. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank is shut out of swift, severing it from international monetary flow. many russian companies can no longer pay for or receive foreign goods. rushes, trade with the rest of the world is restricted. but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices wor

what is swift? the acronym stands for the society for world wide into bank financial telecommunication. a global network founded to process international financial transactions. it's been around since 1973. the system is used by bank and commodities insecurities craters in more than 200 countries. welski some 42000000 transactions were handled by swift. every day the bank identify a code or big it shows that money transfers are paid into the correct account. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank has shut out of swift, severing it from international monetary flow. many russian companies can no longer pay for or receive foreign goods. russia's trade with the rest of the worlds is restricted. but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices worldw

there is more to be done on swift, we can tighten up further on swift. a dramatic effect already, we need to go further. there is more to be done and on the freezing of russian assets. mark: nato says it has not changed the status of its nuclear forces in response to vladimir putin's decision to put his nation's nuclear commands on high alert. the alliance is not increasing its nuclear readiness. nato says the purpose of the nuclear forces is to deter aggression. the european unit is discussing more sanctions against russia, it now to seek seven russian banks from swift, the system that facilitates international payments. that is according to a proposal. one of the banks is one of russia's largest. as the judge ketanji brown jackson prepare to meet senators, we come to understand how she became the nominee. the white house contacted her four days after the justice announced retirement plans. jackson said she spoke with vice president kamala harris on february 11 and then through this after that she interviewed with president biden. -- three days after th

currently, sib, though, still relies on swift for international communication process. financial ties with china could increase cut off from all trade partners. moscow is forced to reorganize much of its economy and trade with a focus on beijing. it's been a months since the winter olympics opened in beijing with fireworks and chinese president deeds in ping waving proudly from the stands abandoned by most international leaders. she had only one prominent visitor, russia's flooded mir putin who certainly knew at the time that the relation between the 2 powerful nations would soon change. that's because russia needs china after the west test distance itself from moscow. russia might be optimistic last year. trade with china reached a record $147000000000.00. it's set to reach $250000000000.00 soon. that's 40 percent more than current trade volume between russia and the u. currently, russia is china, 2nd biggest oil supplier providing over 15 percent of its imports. the country also covers 5 percent of china's demand for natural gas. meanwhile, the food trade has been growing fast. in 2

you shut down the swift system, you're going to have some real real problems there. because how are, how are they going to get their heat and the in the natural gas that they need. so i think there's a lot of issues here, but i think oil is more running a little bit on fear, but we're going hire no matter what we were over a 100 last week and we're going to get close to it again this week. i wouldn't be surprised because i said to see all time you, isaac, be resolved on. yes, certainly seems like all of the pieces are there for the puzzle to be put together . now another story that i wanted to touch on when it comes to all the reaction here is the fact that b p announced that it is offloading it's 20 percent stake. and the russian oil giant ross net, which will cost the british company around $25000000000.00. i mean, what is behind to move like that and does it benefit b p in any way? well, i may benefit them from maybe looking good, but let's see if this is just lip service or this is going to be real. you know, a lot of people say a lot of things in the heat of the

what is swift? the acronym stands for the society for world wide into bank financial telecommunication. a global network founded to process international financial transactions. it's been around since 1973. the system is used by bank and commodities insecurities craters in more than 200 countries. welski sum 42000000 transactions were handled by swift. every day the bank identify a code or big it shows that money transfers are paid into the correct accounts. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank has shut out of swift, severing it from international monetary flow. many russian companies can no longer pay for or receive foreign goods. russia's trade with the rest of the world is restricted. but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices worldwi

and if there is problems, they can't get things out and you, you shut down the swift system. you're going to have some real real problems there . because how are, how are they going to get their heat and the in the natural gas that they need? so i think there's a lot of issues here, but i think oil is more running a little bit on fear, but we're going hire no matter what we were over a 100 last week and we're going to get close to it again this week. i wouldn't be surprised because i said to see all time you, isaac, be resolved on. yes, certainly seems like all of the pieces are there for the puzzle to be put together . now another story that i wanted to touch on when it comes to all the reaction here is the fact that b p announced that it is offloading it's 20 percent stake. and the russian oil giant ross net, which will cost the british company around $25000000000.00. i mean, what is behind to move like that and does it benefit b p in any way? well, i may benefit them from maybe looking good, but let's see if this is just lip service or has is going to be real. you know, a

what is swift? the acronym stands for the society for world wide into bank financial telecommunication. a global network founded to process international financial transactions. it's been around since 1973. the system is used by banker and commodities insecurities craters in more than 200 countries. welski some 42000000 transactions were handled by swift. every day the bank identify a code or big it shows that money transfers a paid into the correct account. a big is familiar to anyone with a bank card. it allows bank a in germany to transfer a payment to a bank in the us or to purchase shares or precious metals. if a big code is blocked like that, of many russian banks, the member bank has shut out of swift, severing it from international monetary flow. many russian companies can no longer pay for or receive foreign goods. russians trade with the rest of the worlds is restricted. but it means the trade in urgently needed goods from russia is also interrupted. the results rising energy prices worldw

and this thing has been very clear and very swift. and they seem to constrain the vision financially and economically, which will have an impact on the russian behavior in the mid long term. the french finance ministers, western sanctions will bring about the collapse of the russian economy. is that likely? so a lot of the impact of pensions usually unfold over time, the content, the been on the technology from the you and to get to russia. but we have seen some pretty swift, immediate consequences. the rule left about a 4th of its swelling. you and we also see ordinary russian king to withdraw the money we will probably see right. and then there will be consequences that rational mode. so how do you evaluate the impact of the sanctions that they have, right? even having so i think they have, as i said, quite remarkable, it can on the consequences also compared to the sanctions that we saw in the context of the crisis. but despite these remarkable economic and financial consequences for the russian regime, i don't think they will for

around 70 percent of its banks and financial institutions have been cut off from swift. the system used by banks to send money across borders. it is a move that's impact reaches well beyond russia itself. many banks in the u. s. the e u and the u. k. have given loans to russian firms who can now no longer service them. it's unclear exactly how much banks have loaned to russian companies, but the experts are putting this number somewhere in the 10s of billions of yours. then there is, of course, the potential for sovereign debt default. russia's central bank can't access its assets abroad on his own course to miss re payments to its creditors. now russia currently owes nearly $50000000000.00 to lenders in the west. payments are due within the next 2 weeks, one for a $100000000.00 in interest. another of over $2000000000.00 among the countries levying sanctions on russia is switzerland. it's an unprecedented step for the financial hub that pride itself on staying neutral, but it's still being urged to take further action. to reach is one of the world's most expensive place

and the signal has been very clear and very swift. and they seem to constrain the vision financially and economically, which will have an impact on the russian behavior in the mid long term. and the french finance ministers, western sanctions, will bring about the collapse of the russian economy. is that likely? so a lot of the impact, the pensions usually unfold over time in the consent, the been on the technology from the you and to get us to russia. but we have seen some pretty swift, immediate consequences. the rural left about a 4th of as well. and you, and we also see ordinary russian king to withdraw the money we will probably see, right. and then there will be consequences that rational mode. so how do you evaluate the impact of the sanctions that they have, right? even having so i think they have, as i said, quite remarkable, economic consequences also compared to the sanctions that we saw in the context of the crisis. but despite these remarkable economic and financial consequences for the russian regime, i don't think they

include russia's exclusion from the international payment messaging service. notice swift restrictions on russian banks, asset freezes and travel bands as well as bard access to high tech. the full extent of the damage rushes war cannot yet be known, but western powers are hoping, inflicting economic pain will push president putin to reverse his course economy sanctions and nothing new for russia. and yet, most people here have no idea how big an impact the latest financial sanctions will have on their lives and their families. the one is only on the up and i can't even say much about it. most people can't anymore booker. i'm sick with her nip in the morning was just a yuk of silica. there wasn't much business as a business man. i am looking at the factory. yes, i will likely have to work more for about what can you do? we'll have to live with this and just hang in there it is. what it is, not alonzo numbers and for those rogers, the daughter, but she observed her to come in yet. no. the sanctions won't hurt us much. we are simple people and don't half much in terms of savings. it won'

said one of the data centers for the swift bank payment system is very close to 0. it's currently under a heavy guard for fear of russian sabotaged but elma doesn't think our complete russian cut off from swift would be that dramatic for russia. it gets a sheet in american skies. there are various ways of getting around this, like inter company deal. the banks holding bank accounts with other banks and trade shortcuts, as well as barter transactions house because there are many variance. and you have to see that this payment transaction business has become even more lucrative all day due to the sanctions of count authority on rudolph elma, now lives in seclusion near situation. but he hasn't stop criticizing switzerland's, financial institutions and authorities. he's demanding strict laws for better monitoring the financial center, but so far says he see no willingness in the government to take action or love in speaking to your rock call. who's president of the european school of management and technology, s m t. berlin. i asked him how surprising it was that switz

and allies can provide assistance while proposing swift sanctions against russia. we must also shore up nato to send a signal to put in the united states will make good on our defense commitments. this is essential. not only to help prevent this from spreading further into eastern europe at the send a message to china similar acts of aggression will not be tolerated. i want remains in the crosshairs of president. justice putin is flexing his power and ute europe communist china is looking for any opening. mr. president, many pundits have speculated about putin's mindset and ultimate goal with his attack and how far he's willing to go to spitees mounting losse. i think it is clear he is willing to take it to the next level. we should be concerned that it's russia continues to meet heavy resistance putinr will order his generals to increase pressure and matter the cost. this means similar to the cost of his own troops many young soldiers and conscripts and no matter the cost of ukrainian people. potenza failures and ukraine mounting international presser. they sport

and this signal has been very clear and very swift. and they seem to constrain the vision financially and economically, which will have an impact on the russian behavior in the mid long term. the french finance ministers, western sanctions, will bring about the collapse of the russian economy. is that likely? so a lot of the impact, the pensions usually unfold over time in the consent. the been on the x root technologies from the you and to russia. but we have seen some pretty slips, immediate consequences. the rule left about a 4th of spelling you and we also see ordinary russian king to withdraw the money we will probably see. right. and then there's some really drastic economic consequences. rational mode. so how do you evaluate the impact of the sanctions that they have already been having? so i think they have, as i said, quite remarkable, economic consequences also compared to the sanctions that we saw in the context of the premier crisis. despite these remarkable economic and financial consequences for the russian regime, i don'

include russia's exclusion from the international payment messaging service. notice swift restrictions on russian banks asset freezes, and travel bands as well as bard access to high tech. the full extent of the damage rushes war cannot yet be known, but western powers are hoping, inflicting economic pain will push president putin to reverse his course economy sanctions and nothing new for russia. and yet, most people here have no idea how big an impact the latest financial sanctions will have on their lives and their families. the one, it's only early up and i can't even say much about it. most people can't anymore quicker. sick with her nip in the morning was just reassuring those implants of business as a business man. i am looking at the faculty. yes, i will likely have to work more for about what can you do? we'll have to live with this and just hang in there it is. what it is last alonzo numbers. and for those richard 0 to the queue observes through order to come in yet . no, the sanctions won't hurt us much. we are simple people and don't have much in terms of savings. it won't

and this thing has been very clear and very swift. and they seem to constrain the vision financially and economically, which will have an impact on the russian behavior in the mid long term. the french finance ministers, western sanctions will bring about the collapse of the russian economy. is that likely? so a lot of the impact, the pensions usually unfold over time in the consent, the been on the technology from the you and to get to russia. but we have seen some pretty slips, immediate consequences, the river left about a 4th of swelling you and we also see ordinary russian king to withdraw the money we will probably see. right. and then there's some really drastic economic consequences. rational mode. so how do you evaluate the impact of the sanctions that they have already been having? so i think they have, as i said, quite remarkable. it can be consequences also compared to the sanctions that we saw in the context of the premier crisis. but despite these remarkable economic and financial consequences for the russian regime, i d

in response to russia's invasion of ukraine, a number of russian banks no longer have access to the swift international payments system. now that could open an opportunity for china's alternative cross border inter bank payment system or sips. as china is russia's leading trade partner, unveiled in 2015 sips to help establish the you on as an international currency sips aim is to allow banks to process cross border you on transactions directly. now, according to chinese, official data sips has some $1200.00 participants from more than a 100 countries and regions that includes russian banks and chinese subsidiaries of dodger back last year, sips process transactions worth almost 13 trillion us dollars. now, chinese media says that was a 75 percent increase from the previous year. currently sips though still relies on swift for international communication versus financial ties with china could increase cut off from all trade partners. moscow is forced to reorganize much of its economy and trade with a focus on beijing. it's been a months since the winter olympics opened in beijing with fire

one of the data centers for the swift bank payment system is very close to 0. it's currently under a heavy guard for fear of russian sabotaged but elma doesn't think our complete russian cut off from swift would be that dramatic for russia is good for. she's an american sky. there are various ways of getting around this, like inter company deal. the banks holding bank accounts with other banks and trade shortcuts, as well as barter transactions house because there are many variance. and you have to see that this payment transaction business has become even more lucrative all day due to the sanctions of contact on rudolph l man. now lives in seclusion near situation. but he hasn't stopped criticizing switzerland's, financial institutions and authorities. he's demanding strict laws for better monitoring of the financial center, but so far says he see no willingness in the government to take action. let's get more on that story. i've been speaking to you of rock hall, who's president of the european school of management and technology, empty berlin. i asked him ho

the swift system is just a communication system. there's no money actually transfer on swift. payments aren't made. and if we deny russian banks access to swift, we don't deny them the ability to conduct business, the ability to move money on behalf of oligarchs and oil and gas industry, we don't cut off the flow of revenue to putin not just by kicking them off swift. we make it inconvenient for them, but there are work-arounds that you can use to get around the obstacles. what we need to do and what we do in this legislation is we make a very simple proposition to the entire world. banks all around the world will understand if this legislation becomes law, they have a choice to make. they can do business with russian banks or they can do business with the united states of america. but they can't do both. madam president, that is not a tough decision for the world's banks. the overwhelming majority and all of the significant ones will choose to do business with the united states, and that shuts down the russian banking industry. that shuts down the revenue stream for vladimir

"0ur western partners have not "completed the sanctions on disconnecting the banking "system from swifttional transaction system. many banks that matter have not been disconnected, and that's particularly true in europe of those banks which handle the financial transactions which give payments to russia for oil and gas. why will you not ensure that swift transactions are blocked for all russian banks, including those banks which handle the energy transactions? well, i did say, just to correct you, that the minister of finance asked us to do more, and indeed i'm aware of the words of president zelensky. i listened very carefully to it, and you will understand, because it's been a very open comment, that the issue around energy is a particular point in europe. we are over—reliant on russian oil and gas. we plan to reduce significantly that dependency, and that takes time. but, of course, we've also said that everything remains on the table. so, we started with one package of sanctions. we have four now in place. and there is an ongoing discussion about the energy question, because i accep

, including looking at swift. ., , ., ., ., 4' , swift.he key area, does it? that— swift. it does not go to the key area, does it? that key i swift. it does not go to the key area, does it? that key area i swift. it does not go to the key area, does it? that key area ofj area, does it? that key area of allowing russia to get foreign currency from the purchases of oil and gas. when are we going to get to the stage where that has to be looked at again? president biden saying actually, nothing should be off the table. saying actually, nothing should be off the table-— saying actually, nothing should be off the table. president biden said think earlier _ off the table. president biden said think earlier this _ off the table. president biden said think earlier this morning - off the table. president biden said think earlier this morning that i off the table. president biden said think earlier this morning that oil. think earlier this morning that oil and gas was on the table and they know we have been talking. the uk is not as dependent on oil

include russia's exclusion from the international payment messaging service. notice swift restrictions on russian banks asset freezes, and travel bands as well as bard access to high tech. the full extent of the damage rushes war cannot yet be known, but western powers are hoping, inflicting economic pain will push president putin to reverse his course economy sanctions and nothing new for russia. and yet, most people here have no idea how big an impact the latest financial sanctions will have on their lives and their families. the one is only early up and i can't even say much about it. most people can't any most booker sick with her nip in the morning, was just reactive to like a 1000 months of business. as a business man, i am looking at the factory. yes, i will likely have to work more for about what can you do? we'll have to live with this and just hang in there it is. what it is, not alonzo numbers and put those address the door to the key observed her to come in yet. no. the sanctions won't hurt a smile. we are simple people and don't half much in terms of savings. it won't hurt

president, you didn't mention swift in the sanctions that you announced.hy the u.s. isn't doing that? >> it is always an option, but right now that is not the position the rest of europ since then, faced with the enormity of putin's crime, the western powers "have" disconnected russian banks from swift, forcing russia's central bank to more than "double" interest rates to 20% and refuse to open the moscow stock exchange. which is probably a good thing. this is what shares of the russian bank sberbank actually looked like when the market opened in london this morning: holy pierogi! it is never-- goods when your financial graph looks like someone knocked over the printer. all weekend, russian people have been standing in long lines at atms, trying to get their money before it turns to dust. putin's finally fulfilled his dream of bringing back the soviet union, because that's a lot of people waiting in line for some bread. faced with a financial crisis, putin tried to reassure citizens that the banks were sound: you're thinking of this place all wrong, like i

and thirdly, i'd like to see all of the russian banks, not just a few of them disconnected from swift. his criticism also has a personal motivation. broadest friend and company lawyer died in the russian prison. he's long known. how dangerous let me put in is russian oligarchs, and in fact, anyone else who wanted to loan to the money have so far been serviced. well, in london, it's been easy to find bankers, lawyers, estate agents to work with. when it comes to property, it's impossible to hide behind. sophisticated sales threats is open within an offshore trust. critics, a wondering whether it's taken the war in europe for the u. k. government, sir, is the change that oliver below joins us now. he's author of the new book butler to the world. how britton became the servant of ty coon's tax doctor, is clipped across. and criminals over thanks so much for joining us. so london is a haven for russian oligarchy. why is the city in particular so popular among oligarchs? yeah, i should say to starts, is that it's not just a haven for russian oligarchs. it's a haven for any oligarchs. you n

if we remember about a month ago or so, there was question about swift banking and whether or not swiftld be used to sanction russia and there was the question, why are we not doing it. president biden said well europe is not there yet. within 24 hours europe fell in line, the swift banking system was closed off to russia. a significant penalty. elizabeth: all right. i'm sorry this is incompetent, okay? i will flat-out say it, congressman this is such incompetent analysis from don lemon, cnn it is on camera. the president said said we can't live with putin anymore. now he is saying it is his personal opinion. you know what i mean, congressman? everyone knows hideousness, brutality what putin is doing. it is about the president and how he is handling it. by the way to cheer the president on if it is great now that he is moving on swift when, k. it has been on the show, others have been on the show, congressman, saying get russia out of swift now that was a month before they decided to move with swift. so why are they being cheerleaders for him now? >> it was incredibly frustrating. i was

said one of the data centers for the swift bank payment system is very close to 0. it's currently under a heavy guard for fear of russian sabotage. but elma doesn't think our complete russian cut off from swift would be that dramatic for russia is keep received an american sky. there are various ways of getting around this, like inter company deal. the banks holding bank accounts with other banks and trade shortcuts as well as barter transactions house because there are many variants and you have to see that this payment transaction business has become even more lucrative all day due to the sanctions of contact on rudolph alamo. now lives in seclusion near sir ish, but he hasn't stopped criticizing switzerland's, financial institutions and authorities. he's demanding strict laws for better monitoring of the financial center. but so far says he see no willingness in the government to take action. let's get more on that story. i've been speaking to you of rock hall, who's president of the european school of management and technology, s empty berlin. i asked him how su

said one of the data centers for the swift bank payment system is very close to 0. it's currently under a heavy guard for fear of russian sabotaged but elma doesn't think our complete russian cut off from swift would be that dramatic for russia is keep the sheet in american skies. there are various ways of getting around this. like inter company deal. the banks holding bank accounts with other banks and trade shortcuts as well as barter transactions house because there are many variance. and you have to see that this payment transaction business has become even more lucrative all day due to the sanctions of kentucky on rudolph elma. now lives in seclusion near situation, but he hasn't stop criticizing switzerland's, financial institutions and authorities. he's demanding strict laws for better monitoring of the financial center. but so far says he see no willingness in the government to take action. let's get more on that story. i've been speaking to you of rock hall, who's president of the european school of management and technology, s empty berlin. i asked him how

and thirdly, i'd like to see all of the russian banks, not just a few of them disconnected from swift. his criticism also has a personal motivation. broadest friend and company lawyer died in the russian prison. he's long known how dangerous vladimir putin is, russian oligarchs, and in fact, anyone else who wants to lower the money have so far been serviced. well in london, it's been easy to find bankers, lawyers, estate agents to work with. when it comes to property, it's impossible to hide behind. sophisticated sales threats is open within an offshore trust. critics, the wondering whether it's taking the war in europe for the u. k. government to sir, is the change that big mass in london for us. there now is your chance to ask the questions. we've been trolling through the comments on any value to videos to find out exactly what people want to know. and janelle, do allow and joins in the studio to answer some of those. so, janelle wasn't very, is a people most curious about, well, rob, this may not surprise you, but we're getting a lot of questions about energy and energy security.