[1] Student at ILS Law College, Pune

[2] An Update To Our Message to SWIFT Community, SWIFT.

[3] Ripple and Swift slug it out over cross-border payments, Arnold, Martin (6 June 2018), Financial Times, From the Original on 27 September, 2019.

[4] SWIFT: Cooperative Governance for network innovation, standard and community, New York, Routledge, ISBN 978-1-317-90952-1, Scott, Susan V, Markos (2014).

[5] Ibid., pg 1-2

[6] Ibid., pg 1-2. 35

[7] SWIFT, Company Information, Original 22 Dec. 2008, as on 9 March 2010.

[8] Swift Board names new Chair and Deputy Chair, completing leadership transition, Company Information, 30 March 2023 and refer footnote 3, pp 16

[9] ibid

[10] History and Detailed Functioning of SWIFT, ECahiers de l'Institut. Graduate Institute Publications. 6 September 2011, ISBN 9782940415731

[11] Origins and Development of SWIFT, 19732009, Susan V Scott, Markos Zachariadis.

[12] Refer 9

[13] What is BIC? And ISO 9632, SWIFT website.

[14] Refer 9

[15] ibid

[16] Understanding IBAN and SWIFT: Essential Details When Making a Money Transfer, Currency Solutions, 2013

[17] Annual Review 2022, SWIFT.

[18] Economic Diversification in Oil exporting Aran Countries, April 2016, prepared by IMF

[19]Ukraine conflict: What is Swift and why is banning Russia so significant? BBC, dated 4 May 2022.

[20] The impact of Western sanctions on Russia and how they can be made even more effective, Atlantic Council, dated 3 May 2021, by Ander Aslund and Maria Snegovaya.

[21] Russia’s attempt to sanction proof its economy all in vain, The Economist, March 2nd 2022

[22] De-dollarization as a direction of Russia’s financial policy in current condition, Xu Wenhong, National Library of Medicine.

[23] Press Conference, 9286th Meeting of Security Council, 17th March 2023

[24] Tumbling Ruble claws back ground as central bank to meet, Reuters, dated August 15, 2023.

[25] Supply of critical raw material endangered by Russia’s war on Ukraine, OECD, dated August 4, 2022

[26] How cutting Russia from SWIFT will change financial landscape, Forbes, dated March 5, 2022.

[27] China is trading more with Russia- so are many US allies and partners, by Joseph Lipsky and Niels Graham, The Atlantic, May 30, 2023.

[28] Russia- China Relations and a Changing World Order, Dr. Himani Pant, Indian Council of World Affairs.

[29] India hopeful of Rupee trade with Russia after import surge by Rueter, dated

[30] The Growing relevance of Eurasian Economic Union for Russia, by Indian Council of World Affairs, dated 22nd December 2022

[31] Russia’s SWIFT alternative expanding quickly this year, says central bank, Reported by Reuters, dated

[32] Iran – Russia Integrated banking system, by the Cradle, dated January 30, 2023.