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BBCNEWS BBC News February 28, 2022 20:48:00

Public opinion that this is the clue that we have to be ready to pay the price now. if not we will have to pay a much bigger price in the future. ., ., , ., future. you may have seen over the weekend western future. you may have seen over the weekend western governments - future. you may have seen over the i weekend western governments agreed to cut off some russian banks from the swift international payment system russian banks from the swift international payments system. so just what is that and what are the implications for those banks? here s monica miller. russia stands to lose access to billions of dollars in trade after being cut off from the swift network. sweat stands for society for worldwide interbank fidelity entered to elect telecommunications. that s how banks and money across borders with up like the gmail of global banking. it welding based is handles trillions of dollars in transactions across more than 200 ....

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MSNBC Ayman February 27, 2022 01:04:00

Interesting ali, the russian state media regulator told russian media outlets that they are not too allowed to refer to this as a war or an invasion or an attack. the term the russian government prefers s special operation, and any deviants from that line is being censored. i ll tell you ayman, there s a growing sense of alarm in moscow about those economic sanctions that the u.s. and its european allies are said they will move along with. news that russia might be partially kicked off the swift network, its central bank is going to have some of its assets frozen. it s arrived like a thunderclap here. and a lot of ordinary, middle class russians, who have nothing to do with this war, are very concerned about the value of the ruble, the russian currency, and whether their savings will be worth anything at the end of the crisis if this currency continues to slide the way it is. you know this from the middle east, sanctions are aimed at the political leadership, but ....

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BBCNEWS Newsday February 28, 2022 01:12:00

Off of what is called a swift network. the is a messaging system that allows international trade to happen amongst banks and this system has roughly trillions of dollars that go through this, so cutting them out of the equation is going to have a massive impact on the russian economy. massive impact on the russian economy- economy. yeah, the domestic russian economy economy. yeah, the domestic russian economy certainly - economy. yeah, the domestic. russian economy certainly under some pressure, we ve already seen those images of course of people lining up outside banks in russia on the streets of russia trying to get their cash out. just talk us through what the implications are for russians, everyday russians, as a result of somebody sanctions? the russian central bank had put out a message yesterday when these sanctions had started to be put into place saying don t panic because essentially what we will be seeing is a run on the bank. people are desperate to get what cash they ha ....

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BBCNEWS BBC News February 28, 2022 20:49:00

Countries and territories. without access to the network russian businesses will struggle with sending and receiving money outside of the country. only one country has ever been cut off from swift. that was iran. and that bands are lose 30% of its foreign trade. the goal was to fold the wallets of the russian elite will bankroll president putin and with the soaring inflation the cost of war will hurt the russian people creating problems for him at home. switzerland has traditionally been neutral. but on monday, it announced that it was also adopting all the eu s sanctions against russia, including against president putin and foreign minister sergei lavrov. here s the swiss president. translation: russia s attack against ukraine is unacceptable with regards of international law. unacceptable politically speaking and unacceptable from a moral point of ....

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BBCNEWS BBC World News February 28, 2022 05:07:00

Going into those banks, so there was a run on the bank so to speak to get as much of their cash out now before things get worse. monica, for now, things get worse. monica, for now. thank things get worse. monica, for now, thank you things get worse. monica, for now, thank you very - things get worse. monica, for now, thank you very much - now, thank you very much indeed. in round about 20 minutes we will have more analysis on those new sanctions imposed on russia being excluded by swift, some banks, how the financial markets are reacting, the freezing of the central bank reserves, all of that to come, later in the programme. many people have had to leave their homes, displaced within ukraine. sarah raynsford reports from the eastern city of dnipro. just four days ago these corridors were thrilled students and now they are sheltering families fleeing war that do not understand. always at a distance. until vladimir ....

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