The annual summit for members of the BRICS anti-American bloc began on Tuesday, focused on its core members engaging in bilateral meetings prior to the largest summit including all nine members a dozens of invited guests from countries interested in joining.
Russian Finance Minister Anton Siluanov said on Thursday that the BRICS economic bloc, led by China and Russia, is working to create its own international payment system because the existing Western system is too politicized, and too vulnerable to pressure from the United States.
Western sanctions against Moscow have insulated the Russian financial system from the banking crisis, the Kremlin claims to believe.
The EU proposed plans to impose an embargo on Russian oil by the end of the year as a part of its sixth round of sanctions against Moscow.
Russian Foreign Minister Sergei Lavrov reportedly offered Indian Prime Minister Narendra Modi deep discounts on oil during a secretive meeting in New Delhi on Friday.
As the EU bans Russian banks from the SWIFT financial system, a bank linked to the sale of Russian gas is said to be exempt from sanctions.
The Russian ruble crashed amid a public frenzy to pull cash out of bank accounts on Monday, instantly knocking almost 30 percent off the value of a currency that was not in good shape to begin with.
On Friday’s broadcast of the Fox News Channel’s “Faulkner Focus,” Sen. Tom Cotton (R-AR) argued that the U.S. can remove Russia from the SWIFT financial system even if Europe doesn’t want to like it forced SWIFT to act against Iran
On Friday’s broadcast of NPR’s “Morning Edition,” Deputy Treasury Secretary Wally Adeyemo argued that cutting off Russia from the SWIFT international banking system “would be a temporary disruption” while the actions the Biden administration has already undertaken have “permanently cut them
On Friday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Mark Green (R-TN) reacted to the White House earlier in the day saying that kicking Russia out of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) international banking system
A senior Pakistani lawmaker said on Sunday history is full of “U.S. strategic blunders” and Washington “must realize it cannot blackmail other countries for its own strategic interests.”
