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← SWIFT as a Weapon
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Question
Why does the US have practical leverage over SWIFT despite SWIFT being a Belgian institution?
1
Because SWIFT processes dollar-denominated transactions through US correspondent banks, it falls within US regulatory jurisdiction for those transactions
2
SWIFT's founding treaty designated the US Treasury as its primary regulatory supervisor
3
All SWIFT governors are required to be citizens of G7 countries, giving the US a blocking minority
4
The US provides SWIFT's technical infrastructure through contracts with American technology companies
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