In all the recent news to the War between Russia and Ukraine, I always ask myself about the economic consequences. Recently the EU and US declared a ban of SWIFT currently focused on the state owned banks (which are also the biggest banks in Russia). What’s SWIFT exactly? Before getting into possible alternatives to SWIFT, let’s dive into what the Society for Worldwide Interbank Financial Telecommunication is. It is an Organization with HQ in Belgium which defines Standards and Services for the transaction of financial information.