VTB head urged to abandon the use of SWIFT settlement system
Only administrative decisions are needed to replace the SWIFT international payment system. At the same time, it is necessary, as through it there can be a direct leak of information to the West. This was stated by VTB head Andrei Kostin on January 19.
He noted that taking into account the prospects that open up with the development of the North-South corridor, the SPIFT system developed by the Central Bank of Russia (CBR) is becoming more and more relevant.
"SWIFT should be killed simply, in a good sense of the word refuse and no longer work with it, it is a direct leak of information to our enemies," Kostin said in an interview with Pavel Zarubin, a fragment of which the journalist published in his Telegram channel.
The head of VTB also noted that "few technological solutions" and agreements are enough to replace SWIFT.
Earlier, on November 21, 2024, it was reported that foreign banks - participants of the SPIFT system may fall under restrictions from the U.S. Treasury Department. In addition, it was noted that the Russian Federation, acting as an initiator of the SPFS, offers partners to actively register in the system. This may make it an analog of SWIFT.
