... China and other BRICS member states as international lenders.
Payment Systems
The BRICS-11
accounted for
22.0% of global exports of goods and services in 2022. However, most settlements in international trade are made in the G7 currencies through the SWIFT interbank system. SWIFT members are more than 11,000 banks from 200 countries, including 300 credit institutions from Russia. The majority of SWIFT transactions are made in U.S. dollars, euros and pounds sterling. In September 2023, the shares of ...
... aggravation of the situation in Ukraine, the “Navalny case”, the diplomatic scandal between Russia and the Czech Republic concerning the explosion of a military warehouse in 2014. The resolution contained radical proposals. Disconnect Russia from SWIFT and stop imports of energy resources in the event of an aggravation of the conflict in Donbass, reconsider relations between Russia and the EU, develop new sanctions regimes, etc. These proposals generated headlines in the media. However, the stock ...
The more frequently the U.S. launches SWIFT-linked sanctions, the harder other countries will work on developing alternatives
The SWIFT system is an information exchange system among international financial institutions. The bank card payment function supported by the SWIFT system is the ...
