The Kremlin considers it possible to disconnect Russia from the SWIFT interbank system. Write about this “RIA Novosti” with reference to the press secretary of the President Dmitry Peskov.
According to Peskov, the sanctions pressure from the West continues to intensify.
“You see that the sanctions aspirations of our opponents, especially the United States, continue, continue on an increasing basis,” he said.
Back in December 2020, Reuters, citing sources from the administration of US President Joe Biden, reported new sanctions against Moscow. The reason for the increased pressure was then called the alleged cyberattacks by Russia on American institutions.
Import substitution of Russia
Note that Russia is already working on plans in case of disconnection from SWIFT. So, for example, the Russian Association of Cryptocurrencies and Blockchain (RACIB) proposed to the Bank of Russia to use a domestic framework for transfers of the digital ruble.
The initiative to transfer the digital ruble to the domestic infrastructure was then explained by the fear of disconnecting the country from SWIFT. However, it remains unknown whether the regulator accepted the RAKIB proposal.
The shortcomings of working with SWIFT were previously announced by the head of the BCB Group, Oliver von Landsberg Sadie. According to him, SWIFT is significantly inferior to existing cryptocurrency solutions, not only in terms of the speed of processing operations, but also in terms of availability.
Meanwhile, Russians have begun to issue digital cards more often. So, in 2020, the demand for digital cards grew by 50%, overtaking physical cards in popularity.
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