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2 Feb, 2022 01:19

Removing Russia from SWIFT will hurt European economies (Full show)

As Russia's denial of any plan to invade Ukraine continues to fall on deaf ears, the US and its close allies are mulling the possible use of "blistering sanctions" to further rile and isolate Russia. These would include sanctions on President Putin’s inner circle and the country’s fuel and financial sectors. The prospect of banning Russia from participation in the 11,000 SWIFT (Society of Worldwide Interbank Telecommunications) system is also under consideration. RT America’s Alex Mihailovich explains the probably fallout from such a move, which would damage the economies of Europe, as well as alternatives to SWIFT still at Russia’s disposal in that case, such as the China International Payment System (CPIPS). Then David Tawil of Prochain Capital and “Boom Bust” co-host Christie join RT America’s Faran Fronczak to share their analysis.

Plus, Presidents Vladimir Putin and Viktor Orbán of Russia and Hungary, respectively, met to discuss threats to security in the region, vowing cooperation with one another and expressing hope for a diplomatic solution to NATO's continuing antagonism.

UK PM Boris Johnson conspicuously canceled a scheduled call with Russian President Vladimir Putin, and the following day flew to Kiev to meet with Ukrainian President Zelensky. The UK has also inaugurated a new triple alliance with Ukraine and Poland, drawn together over “common principles” and not geography. Investigative journalist Ben Swann has the details. Then independent journalist Ben Norton weighs in. He points out that “nothing actually changes on the ground” and that Ukraine’s military is larger than that of the UK.

Japan is now making itself heard as the US rushes wto recover its down F35C aircraft. It cost $100 million to build and represents a trove of military technology for Washington’s adversaries to study and learn if they manage to salvage it first. It remains at the bottom of the South China Sea despite the Pentagon’s best efforts and worldwide attention. RT producer Enrique Riviera has the story.