Russian President Vladimir Putin has called for an alternative international payment system to reduce dependence on the US dollar, which he believes is being used as a political weapon. Speaking at the BRICS summit in Kazan, Putin stated that nearly 95% of trade between Russia and China is now taking place in rubles and yuan. The goal is to create a settlement and payment infrastructure that would bypass the Swift payment system based in Belgium. While some BRICS members are supportive, others like Brazil and India are cautious about creating an alternative to the dollar.

Source: https://www.wionews.com/business-economy/putin-calls-for-alternative-international-payment-system-to-combat-dollar-dominance-at-brics-meeting-770280