Russian Finance Minister Anton Siluanov said on Thursday that the BRICS economic bloc, led by China and Russia, is working to create its own international payment system because the existing Western system is too politicized, and too vulnerable to pressure from the United States.
Siluanov was referring to heavy sanctions leveled against Russia after its brutal and illegal invasion of Ukraine in February 2022. Ever since those sanctions were imposed, Russia has been trying to create an alternative to SWIFT, the international financial tracking system established by Western nations.
“Our task is to create our own independent system, given the largely political decisions of the West,” Siluanov said on Thursday.
“BRICS is beyond politics, beyond any pressures and restrictions. Its aim is to stimulate economic growth and boost the income of our citizens,” he claimed. […]
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