The Geopolitical Use Of The Swıft System: The Rise Of Alternative Payment Structures İn The Context Of The Russia–Ukraine War

This article examines the impact of using the SWIFT system as a geopolitical tool on international trade and the global financial order. Particularly after the Russia–Ukraine war, the sanctions imposed revealed that SWIFT had evolved beyond a mere technical infrastructure into a mechanism of political and economic pressure. This development accelerated the creation of alternative payment systems, most notably China’s CIPS and Russia’s SPFS. The study analyzes the extent to which these alternatives are accepted in the global financial system, their potential to reduce dependence on Western-centric infrastructures, and the indications they provide regarding the emergence of a multipolar financial order. The findings suggest that while SWIFT has proven effective as a sanctions instrument in the short term, it may contribute to the fragmentation and increased fragility of the global financial system in the long term. A key recommendation for policymakers is to enhance diversity in financial infrastructures and develop multipolar strategies based on risk management.