I don’t know. The article quotes the Russian ambassador saying it needs to integrate with the banks and whatever systems are in place currently for each country, but that doesn’t necessarily mean SWIFT as well. But even if it’s a direct competitor, the possibility of future SWIFT integration has to be considered. I’d be surprised if they blanket never wanted it to happen.
Does it dovetail with SWIFT? It really sounded like it’s just a competing system.
I don’t know. The article quotes the Russian ambassador saying it needs to integrate with the banks and whatever systems are in place currently for each country, but that doesn’t necessarily mean SWIFT as well. But even if it’s a direct competitor, the possibility of future SWIFT integration has to be considered. I’d be surprised if they blanket never wanted it to happen.