Russia Launches Own ‘SWIFT’ Service, Links Up 91 Credit Institutions

Nations of the world are sidestepping around the U.S. dominated world economy and are replacing it with their own. The move from SWIFT is yet but one piece. An example of another would be the alternative global internet brought to you by BRICS.

 

Ekaterina Blinova — Almost 91 domestic credit institutions have been incorporated into the new Russian financial system, the analogous of SWIFT, an international banking network.

The new service, will allow Russian banks to communicate seamlessly through the Central Bank of Russia. It should be noted that Russia’s Central Bank initiated the development of the country’s own messaging system in response to repeated threats voiced by Moscow’s Western partners to disconnect Russia from SWIFT.

War by Other Means

MOSCOW/BERLIN (Own report) – Prominent German foreign policymakers are proposing that a “double strategy” be applied in the West’s power struggle with Russia. According to Wolfgang Ischinger, Chairman of the Munich Security Conference, the West should continue to demonstrate a “position of strength.” However, because, at this time, Moscow obviously cannot be subdued by a policy of pure confrontation, a new phase of engaging Russia should be initiated. Talks on EU cooperation with the newly established Eurasian Economic Union could be envisaged. Such a cooperation would return the rivalry “between Russia and the West to the economic field, from that of the military,” according to experts. Last week, Chancellor Angela Merkel had already floated such an option. At the same time, aggression against Russia continues. A US rating agency has just downgraded Russia to “junk level.” Additional measures are in discussion.