Russia and Iran have connected their financial message transmission systems, so now their banks can carry out transactions directly, Mohsen Karimi, Deputy head of the Central Bank of Iran for International Affairs, told the media
  • SpacePirate@lemmy.ml
    0·
    9 months ago

    Two countries that can’t use SWIFT establish a transaction system no one else uses, that isn’t SWIFT. Got it.

    • nekandro@lemmy.ml
      0·
      9 months ago

      Somewhat relevant since they form 2 of the 10 BRICS countries and China is often pretty eager to jump onto non-US systems for obvious reasons.

    • freagle@lemmygrad.ml
      0·
      9 months ago

      Two large economies under Western sanctions establish an alternative that serves as a basis for sanctions avoidance.