Russia's actions made the sanctions by SWIFT meaningless


Undisguised pressure on opponents, including of a financial nature, has become a trademark and work style of the US administration. However, Moscow's actions make any sanctions from SWIFT and the Americans meaningless, the Chinese newspaper Sina writes.


According to the publication, those countries of the world that are not indifferent to their future fate should follow Russia's example, gradually starting to get rid of the American dollar, which has become an instrument of blackmailing the United States. Currently, the international interbank data transfer and payment system SWIFT does not provide transactions that circumvent US decisions.

This makes SWIFT unsafe and risky, given the influence of Washington on this structure, which calls itself an "independent" organization. Therefore, in the era of hybrid wars, any country involved in SWIFT could be exposed to the US financial weapon. For example, the European Union and Iran have been tormented for some time now trying to circumvent US sanctions.

The publication indicates that Moscow has found an effective way out of this predicament. With the help of the SPFS system, specially designed in case of disconnection from international interbank payments, it established a connection between its internal Russian systems for transferring financial information without the participation of SWIFT. Therefore, it is time to adopt the experience of the Russians and begin to get rid of the pernicious dollar dependence.

Faced with the weakening of their own independence due to the hegemony of the dollar, many countries, based on their strategic considerations, began to look for a path to self-sufficiency.

- emphasizes the publication.

The publication drew attention to the fact that after Russia created its own SPFS, it did not stop at the achieved result. Since 2018, Moscow has been actively implementing a plan to de-dollarize its economics and uses currencies of other countries in calculations.

Behind this is a deep understanding that in the face of double pressure on the US economy, the de-dollarization strategy could throw Washington onto the edge of the economic abyss.

- adds the edition.

Now, if Washington starts the "dollar war", it will not destabilize the Russian economy, sums up Sina.
  • Photos used: https://www.swift.com/
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  1. Monster_Fat Offline Monster_Fat
    Monster_Fat (What's the difference) 26 July 2020 12: 12
    -2
    Let me tell you a secret that SWIFT is not really needed for internal payments. It is needed specifically for international payments. So, SPFS is never an analogue of SWIFT.
    1. Oyo Sarkazmi Offline Oyo Sarkazmi
      Oyo Sarkazmi (Oyo Sarkazmi) 26 July 2020 17: 44
      +2
      Quote: Monster_Fat
      ..you have a secret that SWIFT is generally not needed for internal payments

      Let me tell you a secret - if you apply your card to the terminal in Ryazan, permission to transfer your money from your account to the store's account comes with the permission of the US Treasury. If you did not come out face, well, the Ministry of Finance did not like it, then your money will remain in the USA. For all the money in the world belongs to the United States, and people are leased.
    2. nikolaj1703 Offline nikolaj1703
      nikolaj1703 (Nikolai) 28 July 2020 06: 53
      +1
      Visa and other cards do not work without SWIFT, only MIR works.
      1. Dear sofa expert. 28 July 2020 21: 34
        +2
        Visa and other cards do not work without SWIFT, only MIR works

        A credit card, no matter what, is directly tied only to the reference bank account. No SWIFTs are directly related to the card. But what this bank is working with is another matter.
  2. Dear sofa expert. 26 July 2020 12: 15
    +2
    For example, the European Union and Iran have been tormented for some time now trying to circumvent US sanctions.

    Already passed by. Since 2016, Europe (+ Switzerland) has its own SEPA (IBAN) payment system, the use of SWIT (BIC) is only necessary for external payments, for transfers outside the EU (+ Switzerland).

    Iran (and others sanctioned) generally bypasses SWIFT easily using blockchain transfers.
  3. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 26 July 2020 14: 25
    +1
    According to the headline, did SWIFT impose its own separate sanctions?
    What people don't make up ...
  4. SASS Offline SASS
    SASS (Sass) 26 July 2020 16: 34
    -2
    Quote: Monster_Fat
    Let me tell you a secret that SWIFT is not really needed for internal payments. It is needed specifically for international payments. So, SPFS is never an analogue of SWIFT.

    Yes, you sho-o-oh ... Well, glory to him ...))) Thank you for the secret - now wiser with the secret.
  5. Lawyer Offline Lawyer
    Lawyer (Olaf) 31 July 2020 07: 12
    -1
    China tells the Russians how easy and carefree they will live, giving up the dollar in payments for the only Russian product that still interests anyone.
    Probably, for international settlements, the Chinese will be satisfied with the yuan in Ivan's hands.
    And inside the country - the ruble pegged to the yuan. The Russians already like it.
    The main thing is to punish America for its broken roads and thieving mayors and deputies.
    And there even to cowrie shells.