alternative to SWIFT – Page 2 – THE OVAL CIRCLE

Russia

‘Vicious’ sanctions are hurting Russia, but Moscow has plan to ditch US dollar & axe dependency on West, Foreign Ministry tells RT

Posted on May 5, 2021May 5, 2021By Editor

Facing harsh economic measures imposed by Washington and its allies in Europe, Russia is working to cut Western influence out of its economy, Foreign Ministry spokeswoman Maria Zakharova said in an exclusive interview with RT. … Read More >‘Vicious’ sanctions are hurting Russia, but Moscow has plan to ditch US dollar & axe dependency on West, Foreign Ministry tells RT

Russia

Act of war? Ukraine asks EU to consider cutting off Russia from SWIFT payment system as Kiev seeks more sanctions against Moscow

Posted on April 23, 2021April 23, 2021By Editor

Ukraine has requested that the European Union consider the possibility of disconnecting Russia from SWIFT, the international system of transfers between banks, suggesting that the measure be added to a new package of sanctions. … Read More >Act of war? Ukraine asks EU to consider cutting off Russia from SWIFT payment system as Kiev seeks more sanctions against Moscow

Russia

US foreign policy undermining reliability of dollar, Russia warns, as Moscow contemplates new rival to Western payment systems

Posted on April 7, 2021April 7, 2021By Editor

A top Russian diplomat has warned that the US dollar is becoming an increasingly risky currency on which to base global financial transactions, because Washington is linking its currency more and more to its foreign policy aims. … Read More >US foreign policy undermining reliability of dollar, Russia warns, as Moscow contemplates new rival to Western payment systems

Russia

Russia & China to bolster financial security systems, reducing dependency on West in response to ‘threats from unfriendly nations’

Posted on March 28, 2021March 28, 2021By Editor

Money moving between Moscow and Beijing needs to be better protected against hostile states, Russia’s foreign minister has claimed, announcing that a payments system to rival Western alternatives will soon see more and more use. … Read More >Russia & China to bolster financial security systems, reducing dependency on West in response to ‘threats from unfriendly nations’

Russia prepared for possibility of being cut off from SWIFT, Kremlin says

Posted on March 24, 2021March 24, 2021By Editor

With anti-Russian sanctions gathering momentum, particularly in the US, President Putin’s press secretary Dmitry Peskov says he does not exclude the possibility of Russia being unplugged from the SWIFT financial network. … Read More >Russia prepared for possibility of being cut off from SWIFT, Kremlin says

Digital currencies may challenge SWIFT global payment network, says Russian central bank

Posted on December 26, 2020January 2, 2021By Editor

The development of digital currencies may challenge the SWIFT international banking payment system and could eventually make it redundant, the Central Bank of Russia (CBR) has said. … Read More >Digital currencies may challenge SWIFT global payment network, says Russian central bank

Russia

Ukraine SWIFT threat likely a bluff but US weaponization of financial system only encourages Russia & China to dump dollar faster

Posted on December 11, 2020December 11, 2020By Editor

American sanctions and threats to exclude countries from payment systems like SWIFT are hastening the superpowers’ decline and reducing the leverage of the dollar. Recent comments from Kiev have only served to highlight this. … Read More >Ukraine SWIFT threat likely a bluff but US weaponization of financial system only encourages Russia & China to dump dollar faster

Chinese banks urged to switch from SWIFT to domestic financial network amid looming US sanctions over Hong Kong

Posted on July 30, 2020July 30, 2020By Editor

The Bank of China says the country should prepare for potential US sanctions by increasing use of its own financial messaging network for cross-border transactions on the mainland, Hong Kong and Macau. … Read More >Chinese banks urged to switch from SWIFT to domestic financial network amid looming US sanctions over Hong Kong

Cutting Russia off from SWIFT would mean declaration of war – Russian PM

Posted on December 7, 2019December 7, 2019By Editor

Restricting Russia’s access to the SWIFT international banking payment system would virtually mean a declaration of war, Prime Minister Dmitry Medvedev has warned. … Read More >Cutting Russia off from SWIFT would mean declaration of war – Russian PM

Russia, China & India to set up alternative to SWIFT payment system

Posted on October 28, 2019October 28, 2019By Editor

Members of the BRICS trade bloc Russia, India, and China have decided to connect their financial messaging systems to bypass the SWIFT international money transfer network. … Read More >Russia, China & India to set up alternative to SWIFT payment system