De-Dollarization Accelerates as 20 Nations Sign On to Russian Financial System In a significant move towards de-dollarization, 20 nations have joined the Russian Payment System as part of the BRICS alliance’s efforts to reduce reliance on the US dollar. This step aligns with the BRICS group’s broader strategy to challenge Western financial dominance. Russia’s System for Transmitting Financial Messages (SPFS), serving as an alternative to the SWIFT system, has garnered over 159 foreign participants, indicating a growing interest in diversifying away from traditional, dollar-centric financial systems. This development was highlighted in a recent announcement by Russia’s Central Bank Governor, Elvira Nabiullina, emphasizing the BRICS’ commitment to establishing a more independent global financial infrastructure. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts U.S. Office Market Faces Major Glut, Warns BrookfieldExecutive READ MORE Fed's Rate Cut Expectations Delayed as US Economy Proves Robust READ MORE Venezuela's Gold Reserves Plunge Over 11% Amid Economic Challenges READ MORE “A Decade of Armageddon” Susanne Trimbath, Fed & DTCC Insider Reveals All READ MORE Larry Fink joins Jamie Dimon and Jerome Powell is sounding the alarm on ‘snowballing’ national debt: ‘The situation is more urgent than I can ever remember’ READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
