If You Ban SWIFT Payments, Russia Will Stop Selling Oil. That’s About 9% of Global Output. There’s An Energy Shortage Already. The Result Will Be a Global Depression.

Please allow me to simplify the SWIFT discussion. Russia doesn't get dollars for free; they get dollars for oil. If you ban SWIFT payments, Russia will stop selling oil. That's about 9% of global output. There's an energy shortage already. The result will be a global depression. pic.twitter.com/yySF8knqr0

— Jim Rickards (@JamesGRickards) February 27, 2022