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===BRICS payment system===
At the [[7th BRICS summit|2015 BRICS summit]] in Russia, ministers from BRICS nation, initiated consultations for a payment system that would be an alternative to the [[Society for Worldwide Interbank Financial Telecommunication|SWIFT]] system. Russian Deputy Foreign Minister Sergey Ryabkov stated in an interview, "The finance ministers and executives of the BRICS [[central
The [[Central Bank of Russia]] (CBR) also started consultations with BRICS nations for a payment system that would alternative to the SWIFT system. The main benefits highlighted were [[backup]] and redundancy in case there were disruptions to the SWIFT system. The Deputy Governor of the Central Bank of the Russia, Olga Skorobogatova stated in an interview, "The only topic that may be of interest to all of us within BRICS is to consider and talk over the possibility of setting up a system that would apply to the BRICS countries, used as a backup."<ref>{{cite news |url=http://in.rbth.com/economics/2015/06/01/russia_offers_to_discuss_brics_prototype_of_swift_global_system_43421 |title=Russia offers to discuss BRICS prototype of SWIFT global system |work=Russia & India Report |date=1 June 2015 |accessdate=26 March 2016}}</ref><ref>{{cite news |url=http://www.zerohedge.com/news/2015-05-29/de-dollarization-du-jour-russia-backs-brics-alternative-swift |title=De-Dollarization Du Jour: Russia Backs BRICS Alternative To SWIFT |work=Russia & India Report |date=29 May 2015 accessdate=26 March 2016}}</ref><ref>{{cite news |url=http://www.globalresearch.ca/russia-precipitates-the-abandonment-of-the-swift-international-payments-system-among-brics-countries/5480183 |title=Russia Precipitates the Abandonment of the SWIFT International Payments System among BRICS Countries |work=Centre for Research on Globalization |date=6 October 2015 |accessdate=26 March 2016}}</ref>
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