"Globalization, which historically was viewed as a barrier to conflict due to the interdependent nature of global trade, has now become a new battleground." - Patrick Boyle

China recently stated that the US's use of weaponization of global finance (sanctions on Russia [after doing it to Iran's central bank a few years ago]) would be the downfall of it's status as world reserve currency. Ie integrity.

China has a version of Swift, and India is considering (so far just considering) doing a Ruble-Rupee exchange or working in barter.

Most of the West is on side, sanctioning Russia, and that makes up the bulk of currency action, but there are still 100 countries or something that are not sanctioning Russia. Brazil is another country that might help Russia work around the sanctions. Boyle said the use of sanctions in the way the US is doing will have many countries wondering if they can still trust the US.