In the USA - the consequences should be only related to USA pertinent actors. The newspapers in Italy say, "there is no judgement against them in Italy".
SWIFT is headquartered in Belgium. Only 2 banks out of the total 24 on the board of directors is US banks. Unless there's a hostile takeover of the SWIFT organisation by the US, I think this is a bit of a stretch. (Plot-twist: Italy is on the board of directors.)
> Nobody
In the USA - the consequences should be only related to USA pertinent actors. The newspapers in Italy say, "there is no judgement against them in Italy".
The same mechanism that was used to sanction Russia, Iran - will be used to sanction A/I Collective.
If Italy doesn't shut down their services, the Italy itself will be shut out of SWIFT.
>...then* Italy itself will be shut out of SWIFT.
SWIFT is headquartered in Belgium. Only 2 banks out of the total 24 on the board of directors is US banks. Unless there's a hostile takeover of the SWIFT organisation by the US, I think this is a bit of a stretch. (Plot-twist: Italy is on the board of directors.)
SWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I.
> SWIFT abides by international law and local laws. Including those against processing money transfer requests for terrorist organizations like A/I.
A US sanction is neither a local (to all of SWIFT) or international law. The question still stands.
> Italy itself will be
Because of a decision from the USA administration? ?!