https://sputniknews.in/20261028/putin-briefed-on-instruments-to-move-away-from-dollar-and-euro-in-international-transactions-12726608.html
Putin Briefed on Instruments to Move Away from Dollar and Euro in International Transactions
Putin Briefed on Instruments to Move Away from Dollar and Euro in International Transactions
Sputnik India
At the Russia-Africa Forum, Russian Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin briefed President Vladimir Putin on instruments... 28.10.2026, Sputnik India
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During a briefing to Putin, Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin described how Russian banks and their foreign partners are using non-bank institutions and digital technologies to process cross-border payments.Russian Finance Minister Anton Siluanov said the Russian company A7 was also beginning to facilitate cross-border payments with African countries. He cited transaction speeds and costs of around 0.3% as key features of the service.Putin described the system as a modern, convenient and sovereign payment mechanism that enables funds to be converted between currencies and digital currencies online.He stressed that the approach did not involve abandoning existing currencies but offered an alternative way to conduct transactions. Putin also argued that the system’s technological design made it resistant to external blocking.The comments come as Russia seeks to expand financial and trade cooperation with African countries and diversify the mechanisms used for international settlements.
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Russia presents new payment solutions beyond dollar and euro
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Russia presents new payment solutions beyond dollar and euro
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Putin Briefed on Instruments to Move Away from Dollar and Euro in International Transactions
23:17 28.10.2026 (Updated: 23:57 28.10.2026) At the Russia-Africa Forum, Russian Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin briefed President Vladimir Putin on instruments that enable international settlements without relying on the US dollar and euro.
During a briefing to Putin, Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin described how Russian banks and their foreign partners are using non-bank institutions and digital technologies to process cross-border payments.
“Just five years ago, we, like many countries around the world, primarily used the dollar and euro to support Russia’s foreign trade,” Oreshkin said, adding that new mechanisms now enable payments worldwide without depending on the Western financial system.
Russian Finance Minister Anton Siluanov said the Russian company A7 was also beginning to facilitate cross-border payments with African countries. He cited transaction speeds and costs of around 0.3% as key features of the service.
Putin described the system as a modern, convenient and sovereign payment mechanism that enables funds to be converted between currencies and digital currencies online.
He stressed that the approach did not involve abandoning existing currencies but offered an alternative way to conduct transactions. Putin also argued that the system’s technological design made it resistant to external blocking.
The comments come as Russia seeks to expand financial and trade cooperation with African countries and diversify the mechanisms used for international settlements.
