Published on 12 November 2014, by M. Tomazy.
Russia To Have SWIFT Alternative By MayAs the West (US and its pressured allies) attempt to 'isolate' Russia more and more, the inevitable cornering further and further incentivizes Putin to develop alternatives to the status quo.
In the past, western sanctioners have sabre-rattled cutting off Russian from SWIFT - the international inter-bank payment system - as a next step in squeezing the oligarchs into submission (though 'independent' SWIFT distanced itself from those calls).
|AW360: The Bear versus (Uncle Sam and The Old granny), cartoon by Carlos Lattuf|
Now however, as RT reports, Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West. If successful, this would pose a further challenge to the USD's reign as sanction blowback reverberates once again.
Source: Zero Hedge