Vedomosti: Russia is working on linking the Russian financial settlement system with analogues from friendly countries

The government is working on a mechanism for settlements with friendly countries. It is expected that the new payment mechanism will be based on the Financial Message Transfer System (FSFS) of the Bank of Russia and its analogues in other countries. The newspaper reported Vedomosti with reference to sources.

According to the source of the publication, the docking of national settlement systems will simplify the use of SPFS for banks in other countries, because they will be able to work on the basis of the national payment infrastructure. The new system will not become an analogue of the SWIFT international bank transfer system, but will allow transfers in national currencies.

Work on the project is in its early stages, the source explained. He did not specify the amount of funding that may be needed for its implementation.

In response to the military operation in Ukraine, the EU disconnected a number of Russian banks from SWIFT, including Sberbank, VTB, Otkritie Bank and others. As a result, Russian officials began to discuss the creation of an alternative system of mutual settlements with other countries. It was reported about the development of systems for making payments between Russia and India, as well as Russia and China.

On the work of Russian banks abroad – in the material “Kommersant” “In tight corsets”.

Olesya Pavlenko