Russian officials claim they can reconnect to SWIFT but doubt its importance in today’s digital finance. Anatoly Aksakov indicates that alternative systems must be developed as digital currencies reshape financial transactions.

Since being cut off from SWIFT in 2022, Russia has enhanced its Financial Messaging System. As of 2023, the system includes 556 participants from 20 countries, showcasing significant growth in alternative transaction methods.

The BRICS nations are pursuing trade in national currencies, aiming to create a joint payment system. This movement signifies a broader grid toward financial independence from Western-controlled systems.