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Putin Pushes for Alternative Payment System at BRICS - De-Dollarisation
Putin Pushes for Alternative Payment System at BRICS - De-Dollarisation
Oct. 24, 2024
Firstpost
At the BRICS summit in Kazan, Vladimir Putin called for an alternative international payment system to counter the US dollar’s dominance, criticising its use as a political weapon.
Russia is working on creating a payment infrastructure to bypass the SWIFT system, but the summit communique showed little progress on this front.
This comes as the Russian economy faces a slew of western sanctions, which have pushed local banks out of the SWIFT system. Can India's UPI emerge as a suitable alternative?
Palki Sharma tells you more.
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Original: https://youtu.be/JBgitzPaLuw
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