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Bank of Russia sees complication of situation with cross-border payments

Elvira Nabiullina added that the business is adapting to the situation and the Central Bank is helping it in this aspect

ST. PETERSBURG, July 4. /TASS/. The Bank of Russia notes that the situation with cross-border payments is becoming more complicated, Governor of the Central Bank Elvira Nabiullina said at the Financial Congress of the Bank of Russia.

"The situation with cross-border payments has become more challenging lately. Importers primarily speak about that; we see it," she noted, adding that the business is adapting to the situation and the Central Bank is helping it in this aspect.

In June 2024, the European Union introduced sanctions against the Central Bank’s System for Transfer of Financial Messages that can transfer data in the SWIFT format but does not depend on its channels.

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Central Bank of Russia

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