Taking Russia off the SWIFT system as part of all the sanctions was a dumb move. It only encouraged Russia and other countries to develop an alternative system. Both Russia and Iran no longer need SWIFT to conduct transactions. The Central Bank of Iran said so this weekend.
RT:
Iran and Russia have officially switched from the West’s SWIFT system to a direct interbank transfers mechanism, the deputy head of the Central Bank of Iran (CBI) has said.
Mohsen Karimi told Iranian state television on Sunday that the system allows companies in both countries to trade in their respective national currencies instead of using the dollar or euro, FARS news agency reported.
“We have linked the financial correspondence networks of the two countries,” he explained.
“This means that the banks of our two countries no longer need Switzerland to communicate with each other and commercial banks of both countries can establish brokerage relations with each other. The [Iranian] exporter can now charge the Russian side in rials and receive money from them via Russian banks in Iran,” Karimi added, noting that the system also allows for payments in Russian rubles.
Belgium-based SWIFT is a high-security banking messaging system that enables financial transfers around the globe. While a number of countries have their own messaging systems, most global transactions are still conducted via SWIFT. Last year, key Russian banks were disconnected from the network as part of sanctions related to the Ukraine conflict.
The entire world is rejecting the ZOG bullies and moving on without them. ZOG is the one that is becoming increasingly isolated and that has only accelerated since Israel foolishly decided to do a genocide in Gaza.
The world is changing and it is changing fast. I think these changes will be better long term because the role of Jewish power is in serious decline. Short term there is going to be a great deal of chaos and problems as this transformation takes place. It’s not going to be pretty.
