The West’s concerted decision to isolate Russia from global financial affairs may actually be a good thing for dry bulk shipping, market experts said.

The US and its allies on Sunday blocked certain Russian banks’ access to the SWIFT international banking system in response to the country’s invasion of Ukraine.

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TradeWinds reporters across the globe are covering the shipping implications on the Russia-Ukraine crisis.

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SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, allows 11,000 financial institutions worldwide to conduct international trade with each other.