12 NATIONS JOINED RUSSIAN ANALOGUE (SWIFT)
The Head of Central Bank of Russia Elvira Nabiullina made an announcement in the Duma State’s Joint Committee Meeting that 52 Foreign Organization from 12 countries have joined the Russian Analogue (SWIFT)
Russia’s Central Bank Head Elvira said “Now SPFS users are 52 foreign organizations from 12 countries,” confirmed by RIA news
The Russian News Media Agency RIA confirms that 50 foreign organizations aggregates in unity with the Russian Financial Messaging System
Eleven thousand plus participants from across the globe are connected to the international interbank system for transferring information using SWIFT payments. The sanctions arrow compelled the Russian Central Bank to work-out for alternatives of exchanging financial communications authenticating monetary transactions.
The European Union alienated seven Russian banks - VEB.RF, VTB, Otkritie, Sovcombank, Rossiya, Novikombank, and Promsvyazbank from their SWIFT payment analogue system after Russia engaged in the act of Ukraine de-Nazification .
Meanwhile, the President Vladimir Putin asked the Russian Central Bank and the government for a detailed report about the deteriorated conditions of the Russian businesses (companies), along with preventive counter measure to limit further worsening of the economic situation.
This is the probably the most painful economic punch by the Russian President Vladimir Putin that predicts to put Dollar at the mercy of Rouble as Russian Central Bank Floats Own Payment Analogue SWIFT.
News Writer - Amit Rao
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