The problem, until recently, was that SWIFT was basically the only game in town for doing international settlements. On top of it, the US having been central to the global economy, most countries did not want to risk secondary sanctions by trading with Cuba. Today, that’s finally changing with the rise of BRICS as a bigger economic bloc, and new trade options becoming popular as a result of the trade war between Russia and the west.
The problem, until recently, was that SWIFT was basically the only game in town for doing international settlements. On top of it, the US having been central to the global economy, most countries did not want to risk secondary sanctions by trading with Cuba. Today, that’s finally changing with the rise of BRICS as a bigger economic bloc, and new trade options becoming popular as a result of the trade war between Russia and the west.