The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
For decades, payment systems were the quiet plumbing of finance: essential for stability, and yet rarely discussed outside specialist circles. That world has ended. Today, the pipes and valves of global finance are on the front line of international rivalry. Payment infrastructures are no longer just technical channels for clearing and settlement. They are instruments of power, tools of statecraft and battlegrounds of sovereignty.
The turning point came with the sweeping sanctions on Russia in
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