Russia should switch to the national payment card by the end of 2015, said President Putin, adding that the country needs to change the situation where more than 90 percent of Russians use foreign payment cards, such as Visa or MasterCard.…
According to Putin, Moscow “allowed its partners to do it, thinking that economy is beyond politics.”
“It turned out that it is not the case,” he said, adding that the economy “is used as an instrument of political struggle.”
That’s why Russia has to make decisions and that doesn’t mean Russia is going “to build a wall” around its borders, he said.
“We will use all instruments of cooperation with all countries – with the US, EU and Asian countries,“ he said, adding that Moscow will develop relations “first of all, with those who want to cooperate with us.”
“BRICS countries want this [cooperation], these are powerful countries with prospects of strategic development, these are future leaders of the world and of the global economy.”
This will undoubtedly set a precedent in other countries wary of Western financial capture.
2 comments:
Important, since most money these days is electronic, controlled by Wall Street, and monitored by the NSA.
It's not clear from the article if the Russian payment system is strictly for use within Russia, or if will work anywhere in the world? My guess is that it is only for Russia, at least in the beginning.
It's run by the Central Bank of Russia, initially for Russia, but the article says that the intention is to go global. BRICS are serious about providing alternatives to the Western financial system now that it's clear that it is being used politically.
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