De-Dollarization Accelerates as 20 Nations Sign On to Russian Financial System In a significant move towards de-dollarization, 20 nations have joined the Russian Payment System as part of the BRICS alliance’s efforts to reduce reliance on the US dollar. This step aligns with the BRICS group’s broader strategy to challenge Western financial dominance. Russia’s System for Transmitting Financial Messages (SPFS), serving as an alternative to the SWIFT system, has garnered over 159 foreign participants, indicating a growing interest in diversifying away from traditional, dollar-centric financial systems. This development was highlighted in a recent announcement by Russia’s Central Bank Governor, Elvira Nabiullina, emphasizing the BRICS’ commitment to establishing a more independent global financial infrastructure. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold and Silver Reach Two-Week High READ MORE Gold Prices Decline as Investors Cash In Amid Fed Rate Cut Uncertainty READ MORE Home Sales Hit a New Low: 2023 Ends with Weakest Performance Since 1995 READ MORE Federal Reserve Shows Little Urgency to Cut Interest Rates READ MORE Inflation, Growth, and Labor Data Heat Up, But Wall Street Stays Skeptical READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment