Foreign Banks Are Embracing Russia’s Alternative To SWIFT, Moscow Says

On Friday, one day after Russia and China pledged to reduce their reliance on the dollar by increasing the amount of bilateral trade conducted in rubles and yuan (a goal toward which much progress has already been made over the past three years), Russia’s Central Bank provided the latest update on Moscow’s alternative to US-dominated international payments network SWIFT.

Source: Foreign Banks Are Embracing Russia’s Alternative To SWIFT, Moscow Says

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