2024-04-07 02:24:35
The American authorities are making every effort to try to isolate Russia from the international payment system, despite its economic importance in the world, as Russia is a prominent supplier of many basic goods.
A report by the Russian newspaper “Vedomosti” shed light on these efforts. According to an interviewer who works for a large Russian raw materials company, American officials are aware of the new accounts that Russian banks are opening in foreign banks, and they are also monitoring the growth in the volume of foreign banks’ business (growth of financial flows). They threaten the management of foreign banks with the repercussions of cooperation with institutions in Russia.
This issue was confirmed to the Russian newspaper by sources in the Russian banking and financial sectors, and there is talk in particular about banks in Turkey, China, the United Arab Emirates, Qatar, and the countries of the Commonwealth of Independent States.
In light of the United States’ use of the dollar as a tool in sanctions and the American public debt reaching an astronomical level, countries in the world, led by the BRICS countries, are working to increase the use of national currencies in international trade.
BRICS is working on establishing an international payment system, BRICS Pay, based on blockchain technology, that is, on the basis of digital assets.
It will be possible to overcome Western sanctions and obstacles thanks to this decentralized mechanism, which will include multiple currencies, and the mechanism will contribute to enhancing the economic influence of the BRICS group in the world.
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2024-04-07 02:24:35