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Russian Central: The interbank communication system is able to work as an alternative to the SWIFT system

2022-02-28T14:12:18.348Z


Moscow, SANA- President of the Russian Central Bank Elvira Nabiullina announced that the Russian financial infrastructure is working


Moscow-Sana

The head of the Russian Central Bank, Elvira Nabiullina, announced that the Russian financial infrastructure is working regularly, noting that the Russian system for the exchange of communications between banks is able to act as an alternative to the SWIFT system.

“We have developed the internal financial infrastructure and it is working without failures and we have an interbank messaging system (SPFS) that can work as an alternative to the Swift system and can be joined from outside the country,” Nabiullina said during a press conference today.

“We will take further decisions on monetary policy based on changes in the actual situation and assessment of risks, and we are in constant contact with the banks and are ready to urgently take the necessary measures to support them,” Nabiullina added.

Nabiullina noted that the international payment system cards issued by the sanctioned banks continue to operate locally as usual.

Russian President Vladimir Putin chaired a government meeting to discuss ways to confront Western sanctions imposed on Russia, which included the Russian Central Bank.

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Source: sena

All business articles on 2022-02-28

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