Russia, China set to create payment system without using SWIFT — Deputy PM Alexander Novak

Summary:
Russia and China are working on a reciprocal opening of company accounts to avoid the use of SWIFT, Russian Deputy Prime Minister Alexander Novak said on Tuesday. He was speaking at the 4th Russian-Chinese Energy Business Forum.Novak recalled that payments under contracts for gas supplies from Russia to China are already switching to the national currencies of the two countries. Besides that, settlements for supplies of oil, petroleum products and coal are being actively transferred in rubles and yuan, he added....TASS (Russian state media)Russia, China set to create payment system without using SWIFT — Deputy PM

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Joel Eissenberg writes Access to medical care: right or privilege?

NewDealdemocrat writes Production turns more negative

Bill Haskell writes Lawler: Early Read on Existing Home Sales in October

NewDealdemocrat writes Real retail sales jump nicely, but we’re not out of the woods on consumption just yet