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Russia Presses BRICS to Allow Payment Routes Around Sanctions

by Cobus van Staden
File image of Russian Finance Minister Anton Siluanov. OLGA MALTSEVA / AFP

As Russia is being squeezed by Western sanctions, it is reaching out to its partners in the BRICS bloc (Brazil, India, China, and South Africa) to allow transactions in their local currencies and to integrate payment systems.

This follows the move from Western powers to exclude Russia from the SWIFT interbank messaging system, and other moves to cut it off from the global financial system.

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