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BRICS payment system would not replace SWIFT -S.Africa finance minister

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JOHANNESBURG (Reuters) - South Africa's finance minister said on Thursday that the BRICS grouping would not be looking to replace international payment ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSJOHANNESBURG - South Africa's finance minister said on Thursday that the BRICS grouping would not be looking to replace international payment systems including SWIFT, but rather consider creating one that would strengthen trade in local currencies.

De-dollarisation is a particular priority for Russia, whose economy has been crippled by sanctions imposed by the West over its invasion of Ukraine and is banned from SWIFT.

 

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