REALPOLITIK: ‘The Big Stiff’, Russia-Iran Dump The Dollar & Bust US Sanctions – By Pepe Escobar

RIELPOLITIK

Source – thecradle.co

  • “…News of Russian banks connecting to Iran’s financial messaging system strengthens the resistance against US-imposed sanctions on both countries and accelerates global de-dollarization….It is no wonder the Global South is paying very close attention. This is likely to become a landmark case in bypassing Belgium-based SWIFT – which is essentially controlled by Washington, and on a minor scale, the EU. The success of SEPAM-SPFS will certainly encourage other bilateral or even multilateral deals between states”

The Big Stiff: Russia-Iran dump the dollar and bust US sanctions

By Pepe Escobar

The agreement between the Central Banks of Russia and Iran formally signed on 29 January connecting their interbank transfer systems is a game-changer in more ways than one.

Technically, from now on 52 Iranian banks already using SEPAM, Iran’s interbank telecom system, are connecting with 106 banks using SPFS, Russia’s equivalent to the western banking messaging…

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