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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