A BRICS currency to facilitate de-dollarization remains a distant dream, but a digital currency alternative to SWIFT is nearly here As India prepares to host the BRICS summit later this year, the focus will be on a payment system linking national digital currencies. By prioritizing this infrastructure over launching a new currency, the bloc makes…
U.N. Secretary-General Antonio Guterres has proposed that Russian President Vladimir Putin extend the Black Sea grain deal in return for adding a Russian agricultural bank’s unit to the SWIFT payment network, Reuters reported citing sources. The deal, which allows Ukraine to export grain through the Black Sea, is set to expire Monday. The deal was…
Three weeks after a meeting between the countries who signed the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), which was ditched by US, French, British and German officials said the trade mechanism which was proposed last summer – designed to circumvent both SWIFT as well as US sanctions banning trade with…