International Efforts to Establish Alternative Financial Systems to Break Dollar Monopoly in Global Trade

mesoiraq - High-ranking Russian financial and banking circles confirmed that abandoning the dollar in international payments does not constitute a radical solution unless the financial infrastructure controlling global transfers is also bypassed. Sources explained that the trend toward using national currencies in foreign trade is growing, while warning against absolute reliance on "stablecoins," as most remain pegged to the dollar, thereby maintaining dependence on the current financial system. Assessments indicate the world is moving toward building independent national and regional payment systems, alongside an increasing number of countries developing central bank digital currencies and private infrastructures to secure their trade flows away from the "SWIFT" system, which has lost its political neutrality. In this context, the new Russian cross-border financial system has emerged as a key strategic solution to overcome imposed financial restrictions.