Russia, China, and India have come up with a way to organize settlements in case of disconnection from the SWIFT system.
The domestic solution -- the central bank's financial message transfer system -- is planned to be linked with the Chinese and Indian payment infrastructure, two sources close to the regulator told Izvestia. Anatoly Aksakov, the head of the State Duma committee on the financial market, confirmed that the topic is being discussed with BRICS partners.
For payments with China, it is supposed to link the Russian payments system with its counterpart in China -- the cross-border interbank payment system. India does not have a national solution for financial communication. So it is planned to combine the platform of the Russian central bank with the promising development of an independent Indian structure, a source in the financial market explained. ...
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