As Russia launches an unprecedented invasion of Ukraine, world leaders are considering what sanctions they could impose to stop President Vladimir Putin in his tracks. These could include cutting off Russia’s access to key technologies such as semiconductors and even the payments service SWIFT, which powers most of the world’s international money transfers.
All of this could have potentially have devastating consequences on Russia’s economy. Chips are the lifeblood of the modern world. Used in everything from mobile phones and computers to cars and missile systems, semiconductors are the brains that power today’s electronics. Without access to certain chips, Russian carmakers and defense companies would be crippled.
When it comes to international payments, Czech President Milos Zeman said Thursday that Russia should be cut off from the international payments network SWIFT. However, the EU is unlikely at this stage to take steps to cut Russia off from SWIFT, Reuters reported, citing sources familiar with the matter.
From semiconductors to payments: How the world could use tech sanctions against RussiaRead More
