Experts from various international organizations are assessing the role that an international BRICS payment system might play in democratizing trade markets away from the ‘mighty’ dollar.

Alexander Ignatov, from the Presidential Academy’s Center for International Institutions Studies, explained that there are numerous advantages to adopting a SWIFT alternative. He highlighted three key elements that support the adoption of such a system: bypassing dependence on Western infrastructure, reducing transaction costs, and diversifying financial risks.

Anton Tabakh, chief economist at the Expert RA rating agency, addressed the core issue, noting that such a system would enable trade without adhering to Western unilateral sanctions against Russia and other countries.

Talking to Izvestia, he stated:

The main advantage of the new platforms will be that they are not American/European and cannot be used to implement sanctions or will not depend on changes in the policies of the U.S. authorities, or the Eurozone, or individual countries.

Tabakh referred to the relevance of this kind of alternative in tackling the supremacy of the dollar in trade transactions. He assessed all the recent events, including the tariff turmoil created by the Trump administration, undermine the authority of the U.S. as a pillar of financial markets.

“But the lack of an alternative financial infrastructure is one of the factors supporting this role,” he stressed, claiming that as alternatives come to exist, it will be less challenging to erode this supremacy.

These assessments come after Russian Foreign Minister Sergey Lavrov remarked last week that a proposal for an upcoming BRICS payment system would be available to non-members of the organization.

Read more: Russia Expects BRICS Payment Network to Go Global—SWIFT’s Monopoly Under Threat

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。