{"id":102737,"date":"2026-08-12T08:00:44","date_gmt":"2026-08-12T15:00:44","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=102737"},"modified":"2026-08-12T06:37:30","modified_gmt":"2026-08-12T13:37:30","slug":"russian-sanctions-proof-payment-system-bypassing-swift-iran-to-join-the-brics-new-development-bank","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/russian-sanctions-proof-payment-system-bypassing-swift-iran-to-join-the-brics-new-development-bank\/","title":{"rendered":"Russian sanctions-proof payment system bypassing SWIFT; Iran to join the BRICS ‘New Development Bank’"},"content":{"rendered":"

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\n(Promsvyazbank logo via Wikipedia)<\/em><\/p>\n

COGwriter<\/a><\/p>\n

RT<\/em> reported the following:<\/p>\n

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Russian sanctions-proof payment system to benefit the world \u2013 top banker<\/h2>\n

The Ukraine conflict has shown that the West\u2019s SWIFT network has become a political pressure tool, PSB\u2019s Pyotr Fradkov has said<\/p>\n

12 August 2026<\/p>\n

Russia has the capability to set up its own comprehensive cross-border payment network that would be domestic in origin, but international in function, the chairman of Promsvyazbank (PSB), Pyotr Fradkov, has said.<\/p>\n

In October 2024, PSB launched the A7 system of international payments, which according to its website, now services 2,000 transactions of various sizes on a daily basis and already accounts for some 20% of all foreign trade settlements by Russian companies.<\/p>\n

The creation of the system was a response to the sanctions placed on Russia by the US and EU after the escalation of the Ukraine conflict in February 2022, which included the disconnection of almost all of the country\u2019s banks from the SWIFT global settlement network, Fradkov said in an interview with RBK …<\/p>\n

After the restrictions were introduced, it became obvious that Western financial instruments\u00a0\u201ccan be a tool for political pressure and influence,\u201d<\/em>\u00a0the banker explained.<\/p>\n

In such conditions, Russia\u00a0\u201cneeds to create its own payment framework \u2013 domestic in origin, but international in function. We have plenty of both technical solutions and financial capabilities,\u201d<\/em>\u00a0Fradkov insisted.<\/p>\n

\u201cPSB, together with the A7 cross-border payment system, is developing one of these projects for a new payment architecture where payment does not depend on the approval of a third party,\u201d<\/em>\u00a0he said.<\/p>\n

The goal of the A7 system is\u00a0\u201cto form our own payment infrastructure capable of conducting international operations independently of external restrictions,\u201d<\/em>\u00a0the PSC chairman explained.<\/p>\n

\u201cThe system is designed in such a way that, even after being sanctioned repeatedly, in various forms and types, the company continued its activities in processing payments for our clients,\u201d<\/em>\u00a0he said.<\/p>\n

Frabkov explained that from a legal point of view\u00a0\u201cno sanctions are being violated [by A7] because there is no such thing as a cross-border payment. It\u2019s precisely that which has restrictions. There are distributed liquidity pools that exist worldwide in various currencies. If you take the jurisdiction of each individual country where we operate, then within it, this is absolutely normal, standard business that complies with all the regulations of that country.\u201d<\/em><\/p>\n

A7 is designed not only to bypass sanctions, but also be a competitive product on the international market that can be conveniently used by other countries to trade not only with Russia, but also with each other, he said.<\/p>\n

According to the banker, it is important that Russia is\u00a0\u201cnot unique\u201d<\/em>\u00a0in developing a domestic settlement system as\u00a0\u201cmany countries are following this path \u2013 Indonesia, Brazil, and others.\u201d <\/em>https:\/\/www.rt.com\/russia\/644163-sanctions-payment-a7-fradkov\/<\/a><\/p>\n

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Pointing to the weaponization of traditional global settlement systems and the dollar \u2013 the \u201csoft power [tool] that now serves as the foundation for controlling transactions and settlements worldwide,\u201d Fradkov explained that\u00a0moving away from the dollar in settlements is not enough, and must be accompanied by work to achieve independence from external financial frameworks altogether.<\/strong><\/div>\n<\/div>\n
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Promsvyazbank\u2019s A7 cross-border settlement system project is one such means. The system:<\/div>\n<\/div>\n
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