Russia Advances Work on a New International Payment System

The announcement made by Russian President Putin in opening the Oct. 4 meeting of the permanent members of Russia’s Security Council surprised many observers in the West, who would have expected him to talk about the war in Ukraine, or the defense budget, or the escalating conflict in South-West Asia. But no. As reported on the Kremlin’s website, he said:

“Today, I suggest that we discuss measures for establishing an international payment system. We are all aware that this is a serious task in the current environment and one of the biggest challenges we face. Overall, this work is progressing steadily, but it is important to address any issues promptly and to plan the steps necessary to overcome the difficulties that are being created outside our borders for us.”

More was not reported on the contents of the meeting. But that statement in itself would seem to indicate that the Russian leadership is aware of the fact that the deeper motive behind the Anglo-American led war drive is the collapse of their financial system, which is irremediably bankrupt. And without that financial-monetary clout, the “Empire” crumbles.

The issue of a trade currency unit and of a payment system will also be high on the agenda of the BRICS Plus leaders, who will be meeting in the Russian city of Kazan Oct. 22-24.