SWIFT
Putin’s alternative to dollar fails to excite Brics partners - FT
China's exports to Russia hit a record amid sanctions
Russia passes new law on cryptocurrency to avoid Western sanctions
G7 plans to send tough warning to Chinese banks about ties with Russia - Reuters
The dollar dominates global trade and reserves - IMF
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Putin’s alternative to dollar fails to excite Brics partners - FT
Russia presented the BRICS Bridge project as an alternative to SWIFT at the Kazan summit. China, India, and other BRICS countries show little practical interest amid the risk of secondary U.S. sanctions.
China's exports to Russia hit a record amid sanctions
In September, China's exports to Russia reached a record $11. 25 billion, up 16.6%. At the same time, imports from Russia fell by 9.2% due to sanctions that made international payments more difficult for Moscow.
Russia passes new law on cryptocurrency to avoid Western sanctions
Russia has authorized the use of cryptocurrencies in international trade to circumvent Western sanctions. The new law will come into force in September, but will not affect the ban on cryptocurrencies in the country.
G7 plans to send tough warning to Chinese banks about ties with Russia - Reuters
The G7 is expected to issue a strict warning to small Chinese banks to stop helping Russia evade Western sanctions over the war in Ukraine.
The dollar dominates global trade and reserves - IMF
According to the IMF's Geeta Gopinath, the US dollar remains the dominant currency, accounting for more than 80% of trade transactions and almost 60% of foreign exchange reserves, despite rising geopolitical risks and gradual diversification into other currencies.
Ukraine calls on FATF to blacklist Russia amid growing ties with Iran and North Korea
Ukraine has called on the FATF to blacklist Russia at its upcoming meeting due to Russia's growing financial ties with Iran and North Korea, which threaten global security.
EU extends economic sanctions against Russia for another six months
The European Council has extended economic sanctions against Russia for another 6 months until July 31, 2024 in response to Russia's actions to destabilize the situation in Ukraine. The sanctions, first introduced in 2014, have been significantly expanded since February 2022 and include restrictions on trade, finance, technology, industry, transportation and luxury goods.