“The Philippines, of course, will also remain in the SWIFT system, but we have not imposed any sanctions against Russia and are still interested in trade.
So we need to seriously think about an alternative payment system in order to support trade with Russia, ”RIA Novosti quotes him.
According to him, information regarding the Russian SPFS has already been transferred to Manila.
In mid-April, the head of the Central Bank of Russia, Elvira Nabiullina, announced that 52 foreign organizations had already joined the Russian analogue of SWIFT - the Financial Message Transfer System.
Nabiullina said in February that Russia's financial infrastructure would run smoothly.
According to her, the domestic Financial Messaging System (SPFS) can replace SWIFT.