Question
US and EU put sanctions on Russia, assumed you were the CEO of a Russian trading company. The main business is importing and exporting goods
US and EU put sanctions on Russia, assumed you were the CEO of a Russian trading company. The main business is importing and exporting goods in Russia. The markets are mainly middle Asia and southeast Asia, and Europe. One of the sanctions on Russia is some Russian banks are forbidden to use SWIFT (international banking messaging system for settlement).
a) Traditionally, the transactions are denominated in USD even if they do not involve a US counterpart. Since the Russian banks are forbidden to use SWIFT, you cannot pay or receive USD. How to solve the problem?
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