30.01.2024, Moscow.
The main and most widespread system of international payments SWIFT is becoming increasingly risky, Central Bank of Russia Chairman Elvira Nabiullina said in an interview with RIA Novosti on January 30.
“Risks of using the established international payment infrastructure emerged, and many countries are thinking about alternative, about their own options for cross-border payment mechanisms,” the head of the Central Bank of Russia emphasized.
She did not specify what are the main risks of using SWIFT for other countries, except for Russia, which is under Western sanctions.
Earlier, Nabiullina said that Russia’s disconnection from SWIFT was one of the most painful financial sanctions from the West. At the same time, the Russian Federation soon introduced the System for Transfer of Financial Messages (SPFS). China and India also have similar systems.
It should be noted that more than 550 banks have already joined the Russian SPFS, including 159 foreign banks from 20 other countries.
Source: Rossa Primavera News Agency
