Are there other payments rails that countries could build quickly as alternatives? Maybe a crypto play as well? It seems that enough large trading blocks may look into this like the EU (Iran sanctions), Russia, India (CAATSA threats) and China that an alternative(s) just might take off. This I think might lead to even bigger inflation as foreign goods would by nature get more expensive in dollar terms and US products would be cheaper for foreigners.
Cutting countries out of SWIFT would be the quickest way to kill SWIFT and/or the USD as a currency reserve. There are now quite a few alternatives to SWIFT available, and SWIFT would dissolve in no time flat.
