Russia and Iran are working together to create a new financial messaging system to replace SWIFT, aiming to reduce Western dominance and reshape global economic power dynamics.
——Generated by ChatGPTRussia and Iran are forging a confidential financial system to replace SWIFT, signaling a bold move to bypass Western dominance and reshape global economic power dynamics.Russia and Iran Deepen Ties in Push to Abandon SWIFT CompletelyRussia and Iran are collaborating to establish a secure financial messaging system as an alternative to the SWIFT network, according to a report by Tass citing Iranian Ambassador to Moscow Kazem Jalali. During an interview on Iran’s IRIB television network, Jalali explained the initiative:The situation in banking and currency cooperation has significantly improved. At the moment, we are working on a confidential financial messaging channel to completely get rid of SWIFT.He expressed optimism that financial challenges in their bilateral ties would be resolved in 2025. This development comes after Mostafa Ghamari Vafa, a spokesperson for Iran’s central bank, emphasized that both nations are taking active steps to finalize agreements with the Bank of Russia.Mohammad Reza Farzin, who leads Iran’s central bank, recently visited Moscow to advance discussions on various elements of the financial collaboration between the two countries. Farzin also joined Iranian President Masoud Pezeshkian on a Jan. 17 trip to Russia, where the two nations signed the Comprehensive Strategic Partnership Treaty. This treaty is inte#TRUMPOnBinanceFutures #CryptoTrump2.0