Loading ...Russia Urges BRICS Nations To Create Own ‘SWIFT’ System, Warns ‘Sanctions Are Destroying International Order’
“…destroying the foundation of the existing international monetary and financial system based on the US dollar”
“The current crisis is man-made and BRICS countries have all the instruments necessary to mitigate its consequences for the national and global economies,” Siluanov was cited as saying by the Russian Finance Ministry
The minister blamed economic sanctions on Russia for “destroying the foundation of the existing international monetary and financial system based on the US dollar” and urged BRICS to rely more on their national currencies in foreign trade, integrate payment systems and create an alternative to the SWIFT payment messaging platform.
Siluanov on Friday told a ministerial meeting with BRICS that the global economic situation had worsened substantially due to the sanctions, a statement from his ministry said on Friday.
“This pushes us to the need to speed up work in the following areas: the use of national currencies for export-import operations, the integration of payment systems and cards, our own financial messaging system and the creation of an independent BRICS rating agency,” Siluanov said.
It’s quite amazing to see Russia, with an economy the size of Canada’s, leading the world toward a new future in the face of an all out campaign by the foremost military and economic power in the world.