[size=36]The BRICS countries are aware of the possibility of cutting Swift[/size]
Moscow, Beijing and New York members of the BRICS are planning to launch a system of financial settlements that will replace SWIFT, the Economic Times reported.
The system will contribute to the promotion of inter-state trade, facilitating financial transactions and stimulating payments in national currencies in foreign trade.
Over the past two years, Russia has been working to reduce its dependence on the dollar, and is continuing to reduce the share of the US currency in its international reserves, and increased the share of gold, the yuan and the euro in reserves and trade at the expense of the dollar.
It also established its own financial system for financial communications SPFS, in response to the possible separation of Russian banks from the system "Swift".
Founded in 2006, the BRICS Group is an acronym for the initials in English of Brazil, Russia, India, China and South Africa. The bloc is the fastest growing economy in the world, and the BRICS countries contribute about 22% of the world GDP and occupy about 26% of the land area in the world.