The same mechanism that was used to sanction Russia, Iran - will be used to sanction A/I Collective.
replyIf Italy doesn't shut down their services, the Italy itself will be shut out of SWIFT.
reply>...then* Italy itself will be shut out of SWIFT.
replySWIFT is headquartered in Belgium. Only 2 banks out of the total 24 on the board of directors is US banks. Unless there's a hostile takeover of the SWIFT organisation by the US, I think this is a bit of a stretch. (Plot-twist: Italy is on the board of directors.)
SWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I.
reply> SWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I.
replyA US sanction is neither a local (to all of SWIFT) or international law. The question still stands.
> Italy itself will be
replyBecause of a decision from the USA administration? ?!