[politicket]

Every now and then, wires and telexes would get mislaid leading to delays and unhappy clients who had to be placated.

Yep. Every banking system still allows using the old method as a backup.

Taking away SWIFT is a definite pain, but not a complete cease and desist.

[Rockingham]

Except that the financial intermediaries and other collaborating parties will be risking legal charges for violating sanctions. That may not matter if you are Doctor Evil living in a secret bunker on Skull Island, but most bankers prefer to live in more comfortable quarters.