Experts Assess Prospects for Russian Banks to Achieve SWIFT Independence via BRICS Pay

Source: Lenta.ru | Original Published At: 2026-01-27 09:12:26 UTC

Key Points

• BRICS Pay is expected to significantly boost trade among BRICS nations by reducing reliance on Western financial infrastructure like SWIFT.
• The system would improve transaction speed, confidentiality, and financial independence for Russian banks facing SWIFT restrictions.
• The expert emphasizes unified payment mechanisms as critical for international alliances to streamline trade and economic cooperation.