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Originally Posted by MITCHAY
Another argument is that strong sanctions could have prevented this but they also give Russia nothing to lose. In any case sanctions should be a punishment against action you have taken not what you might do.
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Russia, China and even the EU have been slowly decoupling from the US dollar for quite some time now. I think there were even talks around establishing a secondary SWIFT like transaction system. Rise of the cryptos? At some stage, financial sanctions imposed by "the west" will have very little impact.