... control over the banking sector, intending to combat international terrorism [Zarate 2013]; however, the side effects included the USA's supervisory powers expanding both domestically and internationally. Additionally, financial sanctions as such are fraught ... .... has imposed sanctions.
Key Concepts and Scholarship Overview
Economic sanctions consist of a set of restrictions in trade, finance, licensing, and other areas; these restrictions are used by the initiator state or by a group of such states against certain ...
... system is kept similar to that of the SWIFT system so as to reduce the Russian customers’ concerns and need to change their usage habits. This system was put into use in 2015, and by 2018, there were 403 Russian companies using this system as an alternative ... ... communication. The laying of BRICS fibre-optic cables signifies that developing countries have reached a new level of cooperation in finance, currency, communications, information, and networking based on a high degree of strategic mutual trust. This will certainly ...
... concentration, in individual countries, of financial assets that exceed the size of their economies by tens, hundreds and even thousands of times. For example, the financial assets controlled by Luxembourg
exceed its GDP
by 248 times, and those of the Cayman ... ... Reserve Bank of New York opened temporary dollar swap lines for the central banks of 14 countries worth over $10 trillion to refinance the dollar liabilities of
lending institutions
operating out of those jurisdictions. The swap lines were discontinued ...
... global financial system.
On September 26, 2017, New York (USA) hosted a seminar on the impact of sanctions upon the global financial system.
Leading representatives of the U.S. financial community attended the event: Adam Shubin, Deputy Minister of Finance of the USA at Obama’s office, Robert Mosbaher Jr., President at Overseas Private Investment Corporation, John Reynolds, partner at Davis Polk and Wardwell, Andrew Spindler, President at Financial Service Volunteer Corps.
Russian side was represented by Ivan ...
