Last week Vladimir Putin pushed back on international sanctions against Russia, suggesting the creation of a digital currency payment system for cross border transactions independent of banks and similar to hawala.
“We are all well aware that in today’s illegitimate restrictions, one of the lines of attack is settlements,” said Putin during a Sberbank conference on Artificial Intelligence.
“Today, the international payment system is expensive, its system (of) correspondent accounts and regulation are controlled by a narrow club of states and financial groups… In fact, they are the masters of life. They really control everything (through a) monopoly.”
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