Russia and China Have Plan to Bypass SWIFT – Moscow

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Russia and China Have Plan to Bypass SWIFT – Moscow

By RT News

The trade partners have been boosting transactions in national currencies, according to Aleksandr Novak.

Moscow and Beijing are developing a system of settlements which could allow cross-border transactions without using the Western financial messaging system, SWIFT, Deputy Prime Minister Aleksandr Novak revealed on Tuesday.

The two countries have reportedly accelerated efforts to move away from the US dollar and the euro, towards settlements using domestic currencies.

“In gas contracts we are already switching to settlements in national currencies – in rubles and in yuan – on a parity basis. Supplies of oil and oil products, as well as coal, are also being switched to payment in national currencies,” he explained.

According to Novak, this could help avoid financial risks and facilitate the transformation of the ruble and yuan into world reserve currencies. “In this regard, the Central Bank of Russia and the People’s Bank of China are working on the possibility of opening accounts for Russian companies in China and vice versa, creating a settlement system without using SWIFT,” Novak said.

Russian President Vladimir Putin had earlier called for new independent financial platforms for international settlements, stressing that the global economy should be more open and unbiased.

Moscow has been promoting its own domestic payment system as a reliable alternative to SWIFT since many of the country’s banks were disconnected from the Western financial network earlier this year.

Russia’s SPFS interbank messaging system was created in 2014, and has similar functionality to SWIFT. It ensures secure transfer of financial messages between banks, both inside and outside the country.

In April, Russian Central Bank Governor Elvira Nabiullina said most Russian lenders and 52 foreign organizations from 12 countries had received access to SPFS. The regulator added it would keep the identity of the payment system’s members secret to protect them from possibly falling under secondary sanctions from the US and its Western allies.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Related News

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published. Required fields are marked *

Documentary: Died Suddenly (2022)

Play Video

McIntyre Report
Political Talk Show

Episode 157

Episode 157

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 23.01.2023

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Watch Full Documentary

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY