Dollar & Sense: The Brookings Trade Podcast cover image

Why US economic sanctions often fail

Dollar & Sense: The Brookings Trade Podcast

CHAPTER

The Role of Swift in Sanctions Resistance

If sanctions are not short, they're likely to be less effective. And I think one reason for that is countries start finding workarounds. There are three main ways for countries to really vaccinate themselves against sanctions. The first thing is not to use the US dollar. China and Russia have been conducting most of their bilateral trade in either Russian locals or Chinese-Raming B. About 300 million Chinese people already use such a currency; there is completely immune to sanctions.

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