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

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