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A quick google search reveals they apparently have their own SWIFT now.¹ It is ran side by side with SWIFT, not as a competitor, so the claim that it is from fe
by sasasassy 8y ago
A quick google search reveals they apparently have their own SWIFT now.¹ It is ran side by side with SWIFT, not as a competitor, so the claim that it is from fear of sanctions or other actions from the US seems accurate.
[1] https://www.cnbc.com/2018/05/23/russias-central-bank-governor-touts-moscow-alternative-to-swift-transfer-system-as-protection-from-us-sanctions.html https://www.cnbc.com/2018/05/23/russias-central-bank-governo...
- sam_lowry_ 8y agoEvery country with an independent financial system has a so called RTGS,a real-time gross settlement system. It happens that Russian RTGS is similar to SWIFT as far as data structures are concerned. This makes it easier to extend RTGS to other kinds of uses.