SPFS illegal in the EU?
Since some Russian banks were excluded from SWIFT, international financial transactions with these banks became more difficult.
However, Russia has an alternative to SWIFT: SPFS, to which foreign companies can also be connected.
Is there a ban on the use of SPFS for Western banks, companies and individuals?
If this does not exist, then the sanctions could be circumvented, but this is probably not the purpose of the sanctions, as it would only make the Russian SPFS system more widespread.
If anyone knows a lot about this topic, I would be happy to receive a competent answer 🙂
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This is only East Block, Russia wants to spread this in Asia to have a counterweight to Swift.
But it is only interesting if you want to deal with Russia at the moment.
Oil gas, coal, wood, precious…
Swift is International
So banks and companies in the EU do not have access to SPFS even if they wanted (theoretically)?
I can hardly imagine that Russia would deny banks and companies in the EU, as this would increase the Russian influence and so the Russians could come to euro and dollar…
That's why I don't think this can only be used in the east…
They're quick. everything else is useless