Planet Money : The Indicator from Planet Money : NPR

MAXIM ZMEYEV/AFP via Getty Images

MAXIM ZMEYEV/AFP via Getty Images

The recent tension on the Ukrainian border has a lot of people worried about the potential for a Russian invasion. The United States and NATO are trying to avoid military conflict, which means there’s been a lot of focus on non-military options: economic sanctions. One of the biggest sanctions is so extreme that it has so far only been applied to countries like North Korea and Iran: A total ban from the SWIFT messaging system for banks.

Today, we learn about SWIFT. What it is, why it’s important, and what a ban of Russia from the system could mean for its economy.

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