EU Connects Sovereign Payment Rails Directly to Brics Nation in Unprecedented Move

The European Central Bank has entered new territory by moving to link its TARGET Instant Payment Settlement system with India’s UPI network, marking the first time the EU’s instant-payments infrastructure has been directly connected with a BRICS nation

GFN–Mumbai: India and the Euro Area have agreed to begin formal work on linking the country’s Unified Payments Interface (UPI) with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) rail, according to a statement released by the Reserve Bank of India. The move will create a direct cross border instant payment channel between INR and EUR retail systems once technical integration is completed.

https://www.zerohedge.com/news/2025-11-24/eu-and-india-bypass-swift-usd-payment-rails

 

Soooo….does this mean that EU will be able to buy Russian oil directly from India without going through the SWIFT system and the USA finding out about it??? In fact it will “prove” that the sanctions are working because no cash is flowing via SWIFT???