Russia, Trade Partners Build Alternative Payments Systems Circumventing US Dollar
New currencies and financial systems are being built to circumvent Western economic pressure on Moscow.
https://sputnikglobe.com/20240902/russia-trade-partners-build-alternative-payments-systems-circumventing-us-dollar-1119982976.html
Russia is adapting to Western financial pressure by developing its own financial systems, including the System for Transfer of Financial Messages (SPFS), and integrating its financial system with that of Iran. China and India's banking and messaging systems are also being used in financial transactions involving Russian entities. Russia is also exploring central bank currencies, cryptocurrencies, and economic barter with China and other countries to maintain its economy.