President Vladimir Putin on
Thursday said Russia should create its own national payment settlement
system, in a bid to reduce economic dependence on the West amid the
controversy over Moscow's seizure of Crimea.
"In countries such as Japan and China these systems work, and work very well," Putin told lawmakers in televised remarks."Initially, they started out solely as national systems limited to their own markets, their own territory, their own population but they are becoming more popular right now."
"Why should we not do it? We should definitely do it and we will do it," he said, noting that Russia's Central Bank and the government have been looking into the matter.
Last week the United States hit more than 20 Russian officials, including some of Putin's closest allies, with sanctions over Moscow's takeover of Ukraine's peninsula of Crimea. A lender described as a "crony bank" for the Russian elites, Bank Rossiya, was also blacklisted.
Dollar be damned folks...Prepare its coming. And as a reminder none of this is an accident its all by design, hence the wealth transfer of the last 6 years.
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