ST. PETERSBURG, October 22. /TASS/. Russian companies conduct up to 60-70% of their import payments outside the banking system through various intermediaries, Vice President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Murychev said at the Russian Industrialist International Forum.

"We process the bulk of payments - up to 60-70% in the import segment - through payment intermediary arrangements. In other words, outside the banking system. This shows that the role of intermediaries has increased significantly recently," Murychev said.

He stressed that the architecture of international settlements has undergone fundamental changes over the past four years. By 2025, complex functional systems for foreign trade settlements had emerged.

"In 2025-2026, businesses moved toward widespread adoption of all available foreign trade settlement arrangements. According to aggregated industry data, the monthly volume of cross-border payments by Russian businesses stabilized at the equivalent of $12-14 bln in 2024-2025," Murychev said.

He noted that amid changing conditions for foreign economic activity, businesses need a systemic solution rather than temporary adjustments. "At the RSPP level, we have identified the following priorities. First, creating our own payment infrastructure under the control of a Russian bank. Second, developing infrastructure controlled by major importers and exporters. Third, developing barter arrangements, with mandatory simplification of accounting and taxation at the legislative level," Murychev said.

He also identified other priorities, including developing insurance for foreign trade transactions, increasing the settlement capacity of Russian banks’ foreign branches, and establishing a legislative framework for the use of digital financial assets in foreign economic activity.

TASS is the forum’s general information partner.