Russian alternative to SWIFT


SWIFT shutdown

Russia ready with own alternative to international bank transfer system .

Global oil giant Rosneft has prepared itself for shutdown of SWIFT interbank cash transfer services, should Russia be shut out of the system as part of Western sanctions.

A Russian equivalent of SWIFT was tested by Rosneft in December, Gazprombank Vice-President Andrey Korolyov told TASS news agency. It is the first time that the Russian SWIFT analogue has been used by a huge corporation since its introduction in 2014.

Gazprombank is Russia’s third-largest bank. Both Rosneft and the bank have been the subjects of US sanctions.

The potential exclusion of Russia from SWIFT has worried the country’s banks since 2014, when the EU and the US introduced the first round of international sanctions against Moscow over alleged involvement in the Ukraine crisis and the reunification with Crimea. However, SWIFT itself has fended off such talks.




The point is while many Russian Federation citizens and other Russian speakers (together with an assortment of British, German and US nationals) rallied to the military, economic and clinical support of people resident in the Crimea and adjoining territories of The Ukraine, there is little actual proof of officially sanctioned Government backed actions until the residents in a democratically demanded plebiscite voted to accede to the Russian Federation.

It is ironic that the Western powers cherrypick when they will support or oppose the rights of self-determination, particularly when the coup and uprising in Ukraine was actively instigated and supported by US Government agencies and citizens donations.

Whatever you think about the legal status of Crimea, the fact remains that many innocent civilian lives were lost, people injured, homes bombed and water supplies cut, with thousands of people fleeing across the border for humanitarian support and safety.

To try and make a political point at the expense of the memory of these attrocities (by opposing sides) is a shame and distracts from the topic relating to international payment systems.


You have to jump through some pretty irrational hoops to ignore all evidence of russian involvement etc. including the shooting down of a passenger plane and the added absurdity of russian tactics of distract, deflect, dismay etc.

But I agree, this is off topic so I’ll leave it at that.

In regards to a Russian payment system. It will go no where outside Russia and Belarus so it’s a niche and will remain that way…IMO.


In September 2016, an international team of criminal investigators said forensic evidence showed the missile had been fired from a field in The Ukraine controlled by anti-Government fighters. It was not fired from the territory of the Russian Federation.

The Dutch Safety Board said the crash was caused by the detonation of a 9N314M-type warhead carried on the 9M38M1 missile, launched from the eastern part of Ukraine using a Buk missile system.

The Joint Investigation Team (JIT) which reported on the interim findings of its criminal investigation in September 2016 similarly found “irrefutable evidence” a BUK missile from the 9M38-series was used.

The Dutch report commissioned three separate investigations - from Dutch, Russian and Ukrainian bodies - to look at where the missile launcher could have been located. It said the missile could have been fired from an area of about 320 sq km in the east of Ukraine.

The JIT and the government in Ukraine say the missile was launched from the rebel-held part of Ukraine, not from Russia.

JIT used witness testimony, intercepted phone calls, photographs and satellite imagery showing scorched land to pinpoint the launch site on high ground at Pervomaiskyi, near Snizhne, in territory held by anti-Government separatists in eastern Ukraine, in the now self-proclaimed independent republic Donetsk (not Crimea).

As for the identities of the perpetrators, the JIT has identified a “long list” of 100 possible suspects. It is continuing its work, including trying to identify the perpetrators’ chain of command, and has appealed for witnesses to come forward - saying those who co-operate could face lower jail terms or immunity from criminal liability themselves.

The Russian firm that manufactures Buk missiles has insisted the missile was a model no longer used by Russian forces and said its own investigation showed it had been fired from Ukrainian-controlled territory.

It is therefore on the balance of probability just the actions of criminal elements involved in the attempted breakaway of parts of eastern Ukraine, and not a result of the actions of Russian authorities.

The two self-declared breakaway republics (Donetsk and Luhansk) remain part of The Ukraine (Only Crimea has acceded to the Russian Federation) and local residents there still suffer the effects of the war damaged or destroyed infrastructure, with few having returned after fleeing across international borders at the height of the terrors of war.

That is why I stated “alleged”. I prefer to look at impartial international evidence than just be brainwashed by the political slant of journalists and editors at various media outlets.


Totally agree. I was just reporting financial news


I agree with the reply much more. :slight_smile:

Don’t get me wrong here, I’m not Russia phobic etc as the above debate usually descends to after going in circles again and again (I’ve been learning Russian for five years, I have a Russian wife and a child who speaks it better than me :slight_smile: ) - I just dislike authotarian rule Putin is taking the country and very much enjoy arguing it with the in laws :laughing:


My kids also speak Russian, and their language abilities impress me. My eldest is now learning Mandarin too!


Now that must be a fascinating conversation, Loz.


I never argued with mine. They did not speak English nor I speak their language. So all my father in law and I did was drink to each other’s health and chink glasses.