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“Isolated” Russia Begins Testing De-Dollarization-Driven Payment System
Tuesday, December 9, 2014 20:36
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from Zero Hedge
Having announced its intention to create an alternative to the SWIFT payment system (following calls from Western politicians for SWIFT to cut off Russia – which the ‘independent’ firm rapidly denied), Russia recently said it would be ready in May. However, it seems the rapid drop in the Ruble (and the Yuan in recent days) has escalated the need for this de-dollarized payment system and, as RT reports, Russia’s Rossiya and SMP banks, which fell under Western sanctions, are among the eight lenders that will start testing the country’s new national payment system on December 15.
Continue Reading at ZeroHedge.com…
Source: http://financialsurvivalnetwork.com/2014/12/isolated-russia-begins-testing-de-dollarization-driven-payment-system/?utm_source=rss&utm_medium=rss&utm_campaign=isolated-russia-begins-testing-de-dollarization-driven-payment-system
