Head of Russia's second largest bank calls for connection to China's analog of SWIFT
Russian banks are in dire need of a direct connection to China's Cross-Border Interbank Payment System (CIPS), said Andrey Kostin, head of VTB Bank, the second largest bank in Russia, at the Russia-China business forum.
The VTB Bank chief said the reason was the "explosive growth of cross-border payments between Russia and China, with over 200% growth in the last quarter for our bank alone."
According to Kostin, Not only large companies, but also medium and small businesses in Russia and China would benefit from connecting Russian banks to the CIPS, as their importance in the trade of the two countries would grow.
"In addition, the yuan is the only friendly currency today that can be effectively used to balance settlements on transactions of Russian counterparties with joint partner countries amid a trade surplus with them in favor of Russia," he noted.
Last year, many major Russian banks were cut off from SWIFT, the system used to transfer information between banks when making foreign exchange transfers. Among others, VTB Bank also fell under the restrictions.
30 Russian banks connected to China's analog of SWIFT
Some 30 Russian banks have already connected to the Chinese bank payment system CIPS (Cross-Border Interbank Payment System), according to the Russian National Association of Financial Communications.
Yet, there are many more Russian banks waiting in line, while CIPS turned out to be unprepared for such application flow, according to credit institutions.
Russian banks are currently connecting to the payment system as indirect participants rather than direct ones. Such banks can receive messages in CIPS through direct participants and open accounts through correspondent banks.
The status of a direct participant could be obtained only by a resident of China and its subsidiaries.
Earlier in 2022, 23 Russian banks reportedly joined CIPS, including both systemically important organizations and banks from the country's top 20.
CIPS was launched in 2015 and specializes in cross-border settlements and payments in yuan. The system was created to develop the global use of China's national currency, but it is often referred to as a SWIFT analog.
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 13:34
由 meiyoumajia
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 13:53
由 meiyoumajia
“Without waiting for the NATO-Ukrainian offensive, the offensive of the Akhmat units began.
Chechen units were ordered to start active hostilities and liberate a number of settlements in the DPR, Kadyrov said.
The forces of the special forces "Akhmat" and the regiment "North-Akhmat" of the Ministry of Defense of the Russian Federation, commanded by Major General Apty Alaudinov, have been deployed to the Maryinsky direction. Now the fighters are preparing to storm settlements with the support of the Ministry of Defense, the head of Chechnya specified.
Similar orders to start the offensive were received by other Akhmat units, which are located on alternative sections of the line of contact between the Zaporozhye and Kherson regions.
Kadyrov also stated, “An attack by drones on Moscow has no tactical, strategic or even psychological meaning. Those trained in military affairs understand this. The war is going on in a completely different place.
But anyone who is familiar with the methods of terrorists trained according to American patterns understands that this is an attempt to draw attention to themselves and win information points after major defeats "on the ground" ...
In the end, I’ll run ahead a bit, but I won’t reveal the details. We will soon show in the SMO zone what revenge is in the full sense of the word "
-------------------------
guessing about going offensive starts
an example
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 13:57
由 meiyoumajia
Serbia would not stand by if the ethnic Albanian authorities in Kosovo start killing or displacing Serbs in the breakaway region, Serbian Defense Minister Milos Vucevic has warned. The statement came as Serbs in northern Kosovo staged another protest over mayoral elections in several towns they described as a travesty.
Speaking to the public broadcaster Radio Television of Serbia on Wednesday, Vucevic assessed the risk of a violent escalation in the north of Kosovo as “big, probably the biggest possible.”
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:01
由 meiyoumajia
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:04
由 meiyoumajia
try it
using google pinyin
try == 太容易
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:11
由 meiyoumajia
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:17
由 meiyoumajia
The moment the rocket fell near the headquarters of the Main Intelligence Directorate of the Ukrainian Defense Ministry in Kiev
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:19
由 meiyoumajia
Re: 俄对美英德法波乌等战争之Bakhmut之战末,和然后,和中国,和宇宙,和其她
发表于 : 2023年 5月 31日 14:20
由 meiyoumajia
meiyoumajia 写了: 2023年 5月 31日 13:53
“Without waiting for the NATO-Ukrainian offensive, the offensive of the Akhmat units began.
Chechen units were ordered to start active hostilities and liberate a number of settlements in the DPR, Kadyrov said.
The forces of the special forces "Akhmat" and the regiment "North-Akhmat" of the Ministry of Defense of the Russian Federation, commanded by Major General Apty Alaudinov, have been deployed to the Maryinsky direction. Now the fighters are preparing to storm settlements with the support of the Ministry of Defense, the head of Chechnya specified.
Similar orders to start the offensive were received by other Akhmat units, which are located on alternative sections of the line of contact between the Zaporozhye and Kherson regions.
Kadyrov also stated, “An attack by drones on Moscow has no tactical, strategic or even psychological meaning. Those trained in military affairs understand this. The war is going on in a completely different place.
But anyone who is familiar with the methods of terrorists trained according to American patterns understands that this is an attempt to draw attention to themselves and win information points after major defeats "on the ground" ...
In the end, I’ll run ahead a bit, but I won’t reveal the details. We will soon show in the SMO zone what revenge is in the full sense of the word "
-------------------------
guessing about going offensive starts
an example