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Creation of alternative to SWIFT to be discussed within BRICS — Russian minister

According to Anton Siluanov, next year it will be one of the issues on the agenda of this organization’s meeting

Russian Finance Minister Anton Siluanov Sergey Guneyev/POOL/TASS

Russian Finance Minister Anton Siluanov

© Sergey Guneyev/POOL/TASS

MOSCOW, September 28. /TASS/. The creation of an alternative to SWIFT will be one of the issues on the agenda of BRICS countries’ meeting next year, Russian Finance Minister Anton Siluanov told a forum, adding that a whole number of BRICS members already have their own systems.

"We are trying to introduce our financial messaging system, the SPFS, our Chinese colleagues have their own system, other BRICS countries also either have their systems or are creating them. This is why this issue is to be discussed by money authorities and financial agencies of BRICS member states, and next year it will be one of the issues on the agenda of this organization’s meeting," he said.

Asked how the Finance Ministry currently estimates the potential of Russia’s financial cooperation with countries of the Global South, Siluanov stressed that Moscow is removing all ties from the West to the Southeast, and that "the trend will persist in the future."

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