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Bank of Russia’s chief does not rule out emergence of new global settlement platforms

Elvira Nabiullina noted that ensuring international payments is difficult work with partners, since the decision on cooperation lies not only on the side of the Bank of Russia, but also on the side of the partners, "who are under extreme increasing pressure"

ST. PETERSBURG, July 3. /TASS/. Bank of Russia’s Chief, Elvira Nabiullina, allowed the emergence of new global settlement platforms that will be created to reduce the risks of vulnerability of the financial infrastructure of countries.

"I think that some global platforms will gradually emerge, because countries look at our experience and understand the vulnerability of the financial infrastructure and the vulnerability in case they are included in only one existing system, such an understanding is gradually coming," Nabiullina said at the Financial Congress of the Bank of Russia.

She noted that ensuring international payments is difficult work with partners, since the decision on cooperation lies not only on the side of the Bank of Russia, but also on the side of the partners, "who are under extreme increasing pressure." That is why, according to Nabiullina, a plurality of solutions is needed, for example, the emergence of new global settlement platforms.

The Financial Congress of the Bank of Russia is the annual largest international financial forum in Russia, which brings together experts, representatives of Russian and foreign structures, heads of central and commercial banks, financial institutions and the business community.

Congress sessions are interactive discussions during which current issues facing the Russian and global financial systems are discussed. TASS is the general information partner of the congress.

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