Socio-Economics History Blog

Socio-Economics History Blog

Putin: Russia With Major Partners Working on Financial Systems Independent From SWIFT

by mosesman

  • Putin: Russia With Major Partners Working on Financial Systems Independent From SWIFT
    by https://sputniknews.com/
    Russian President Vladimir Putin is attending the ‘Building Partnerships, Bridging Differences’ plenary session at the 10th annual ‘Russia Calling’ Investment Forum in Moscow on 28 November.
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    Vladimir Putin said at Russia Calling Investment Forum that Moscow was working with its major partners in order to create international systems that are not dependent on the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
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    ‘We are actively working with some countries, with our partners on trade and economy, on setting up systems that would be independent of SWIFT’, he stated.
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    The Russian president didn’t specify which countries he was referring to. However, Russian companies earlier signed a cooperation agreement on the issue with Iranian firms following the exclusion of Iran from SWIFT due to US sanctions.
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    The annual ‘RUSSIA CALLING!’ Investment Forum brings together investors, businessmen and policymakers from all over the world and aims to promote strategic investment in the Russian economy. The forum’s plenary session is traditionally attended by the Russian president, who addresses the event’s participants in a keynote speech.
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    Russian Companies Under External Pressure
    Addressing the economic restrictions, introduced by the West, Putin also noted that the business in the country managed to maintain the stability and even prosper.
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    ‘Despite the pressure attempts from abroad and certain internal difficulties, Russia’s business is making long-term plans to increase investments in development’, Putin said at the forum.
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    According to the president, Moscow is forced to move away from using the dollar but will do so gradually and without harming itself.
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    ‘We do not have the goal to move away from the dollar, we are forced to do this. Let me assure you, we will do this… We just do not want to do anything sudden that would hurt us… We have no goal to leave the dollar, it is the dollar that is leaving us’, Putin stressed.
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