The Dharma Chronicle

Amidst the Russia-Ukraine War, Russia has become the most sanctioned country in the world, as per the findings of sanctions tracking database of castellum.ai . Earlier, Iran was by far the most sanctioned country in the world with around 3616 sanctions from the US, the UK and the UN etc. Lets find out which countries are the most sanctioned- RUSSIA After the Russian military aggression in Ukraine, Russia currently has 6366 sanctions imposed by USA, United Kingdom, Australia, European Union (EU), Japan, Switzerland and France. IRAN Sanctions were imposed on Iran by the USA, United Nations (UN) and European Union (EU) in response to Iran's controversial nuclear advancements and financing of terrorist organisations. SYRIA Due to repression of civilians in  Syrian Civil War after 2011 and its involvement in sponsoring terrorist groups, Syria so far has 2608 active sanctions imposed on it by the US, Canada,...

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. It is a global messaging system connecting thousands of financial institutions around the world. SWIFT was formed in 1973 and it is headquartered in Belgium. It connects more than 11,000 financial institutions in more than 200 countries and territories worldwide so banks can be informed about transactions. Barring Russia from SWIFT would not only damage the country’s economy but in the long term, cut Russia off from a swath of international financial transactions. That includes international profits from oil and gas production, which make up more than 40% of Russia’s revenue. While Russian banks could use alternative messaging systems such as phones, messaging apps or email to make payments via banks in countries that have not imposed sanctions, they are likely to be less efficient and secure, transaction volumes could fall and cost debt-to-GDP present, Russia has a massive am...