Elvira Nabiullina, the director of the Central Bank of Russia, announced in early April that nearly 100 percent of all domestic financial operations are now being conducted using the System for Transfer of Financial Messages (Systema Peredachi Finansovykh Soobshchenii, SPFS). The national bank created the system as an alternative to the commonly used Western financial...
Russia builds alternative to SWIFT as part of digital sovereignty push
By Luke Rodeheffer / Eurasia Daily Monitor6 Mins Read