SWIFT shutdown: Russia ready with own alternative to international bank transfer system

RT – Global oil giant Rosneft has prepared itself for shutdown of SWIFT interbank cash transfer services, should Russia be shut out of the system as part of Western sanctions. A Russian equivalent of SWIFT was tested by Rosneft in December, Gazprombank Vice-President Andrey Korolyov told TASS news agency. It is the first time that the Russian SWIFT analogue has been used by a huge corporation since its introduction in 2014. CONTINUE READING