The US is busy with its own internal affairs, namely the presidential election, which has made it possible for Russia and China to build a system of cross-border payments that works around US sanctions, Nezavisimaya Gazeta reports. At the same time, Russian Finance Minister Anton Siluanov announced plans to create a settlement system that could save $15-30 billion annually. The Russian project is based on a network of local banks that are not dependent on the dollar for direct cross-border transfers in national currencies.
US Absorbed, Russia and China Build Sanctions-Avoiding Payments System
