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| Ugandan Foreign Minister: Finding an alternative to SWIFT will help resist Western blackmail |
| 2024-02-20 |
| Direct Translation via Google Translate. Edited. [Regnum] The Ugandan authorities welcome the search for alternative options to the SWIFT payment system, as they will help resist blackmail and politicization of financial transactions by the West. This was stated by Ugandan Foreign Minister Jeje Odongo on February 19 on the sidelines of the African Union summit in Addis Ababa. As Odongo noted in an interview with RIA Novosti, the West actually blackmails African states if it does not agree with their political course, threatening to shut down payment systems. In his opinion, Western countries can impose similar sanctions for the connection of any African country with Russia. “An alternative to the existing SWIFT is something desirable, something we need to explore so that, like Africa, we have options. You can use SWIFT or you can use what the Russians are developing, so that in case of blackmail, politicization of financial transactions, there are options,” said the head of the Ugandan Foreign Ministry. As Regnum reported, on January 30, Bank of Russia Chairman Elvira Nabiullina said that many countries are thinking about the possibility of an alternative to the existing system of international payments, which has become risky. According to her, businesses interested in developing economic, trade, and investment relations will definitely begin to look for alternatives to the existing system, which contains risks. On January 17, the First Deputy Chairman of the Central Bank, Vladimir Chistyukhin, presented a presentation at the international exhibition and forum “Russia”, from which it followed that 20 countries of the world were already connected to the SWIFT analogue created by the Bank of Russia - the Financial Message Transmission System (SPFS). It was specified that 557 banks and companies were operating in the system at that time, including 159 non-residents from 20 countries. Related: SWIFT payment : 2023-07-18 Former Grain deal News Roundup for July 17th SWIFT payment : 2023-05-19 Russian Foreign Ministry called the conditions for terminating the grain deal SWIFT payment : 2022-04-07 Farage: EU ‘Funding Putin's War Machine', as Bloc Admits Spending €35bn on Russian Gas Since Invasion |
| Posted by:badanov |
| #2 Maybe Uganda can create their own banking system...with crypto currency? |
| Posted by: Frank G 2024-02-20 06:47 |
| #1 Learn to feed yourself first! |
| Posted by: Grom the Reflective 2024-02-20 03:16 |