Russia and Belarus are switching to payments in rubles
Belarus and Russia are completing the creation of a bilateral financial settlement system, which does not provide for the use of the international payment system SWIFT.
The chairman of the board of OJSC Belarusian Interbank Settlement Center (BISC) Oleg Korobin told reporters about this, a PolitNavigator correspondent reports.
“The project is at a high stage of readiness, an agreement has already been concluded with the Bank of Russia.
In fact, the BMRC will play the same role as we currently do through the SWIFT system.
This is an alternative service for making payments by Belarusian banks in favor of Russian counterparties. And from Russia in favor of Belarusian banks, bypassing SWIFT.
This was a political decision of the two central banks in order to combine settlement systems,” Korobin explained.
The system is planned to be launched in November-December. The main settlement currency will be the Russian ruble.
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