BRICS Pay Emerges as Rival to SWIFT Amid U.S. Sanctions on Russia

BRICS Pay Emerges as Rival to SWIFT Amid U.S. Sanctions on Russia

BRICS nations are accelerating the development of BRICS Pay, a cross-border payment system designed to reduce reliance on the U.S. dollar and offer an alternative to the Western-controlled SWIFT network. The initiative will allow member states to conduct trade in local currencies, shielding them from sanctions while reducing transaction costs.

Supporters say BRICS Pay could empower developing economies and promote a more multipolar world order. Critics caution it may fragment the global financial system, undermine transparency, and complicate regulation. While SWIFT still dominates international settlements, the momentum behind BRICS Pay highlights a growing push for de-dollarization.

The move comes as the United States, backed by Western allies, froze Russian state assets in American banks and expelled Moscow from the SWIFT network. Washington described it as a decisive step to isolate Russia, targeting its central bank reserves and state enterprises. The sanctions severely limit Russia’s ability to fund its economy, settle debts, and import goods.

Moscow condemned the decision as “economic warfare,” pledging to pivot toward alternatives like China’s CIPS and the emerging BRICS Pay system. Analysts warn that such sanctions may accelerate the creation of parallel financial networks, deepening divides between Western economies and the Global South.

The combined effect of these developments signals a historic shift: the U.S.-led financial order is being tested by rising alternatives, with ripple effects expected across energy markets, currency flows, and global trade.
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Welcome to Trendstream. … A new chapter in global finance is unfolding.

BRICS nations are moving forward with BRICS Pay … a cross-border payment system designed to bypass the U.S. dollar … and directly rival the Western-controlled SWIFT network. … The system would allow trade in local currencies … lowering costs … shielding economies from sanctions … and giving developing nations more control over their financial future.

Supporters say this could empower the Global South … break the monopoly of the dollar … and usher in a multipolar world economy. … Critics, however, warn that it could fragment the financial system … complicate global transparency … and create competing blocs in world trade.

At the same time, the United States has struck Russia with one of its toughest economic measures in decades. … Washington has frozen Russian state assets in American banks … and expelled Moscow from the SWIFT network. … This cripples Russia’s access to global finance … blocking central bank reserves … and choking state-owned enterprises.

Russia has denounced the move as ‘economic warfare.’ … In response, Moscow is turning to alternatives … including China’s CIPS system … and the new BRICS Pay network. … Analysts caution this could accelerate the creation of parallel financial systems … widening the divide between Western economies and the rest of the world.

Meanwhile, questions are rising about the future of the U.S. dollar. … Once the undisputed anchor of global trade … the dollar now faces mounting challenges. … With sanctions weaponizing the financial system … and countries increasingly shifting to gold, local currencies, and alternative payment platforms … trust in the dollar’s dominance is slowly eroding.

For now, SWIFT and the dollar remain dominant. … But the rapid rise of BRICS Pay … combined with sweeping sanctions and de-dollarization trends … signals that the future of global finance is entering a period of uncertainty … where the dollar’s power may no longer be guaranteed.

Stay tuned … more updates ahead on Trendstream.