2015-03-11 Cold War 2.0 is a currency/banking war - survival of the US dollar is at stake...
Russia will have a member in the board of directors of SWIFT, to be approved in June, and effective for 3 years. The Russian representative will replace one from Hong Kong.
The reason: Russia’s increased payment traffic using SWIFT.
You all remember the US and the UK’s recent growling, trying to regiment other nations to expel Russia from SWIFT. That WON’T fly.
And on top of it Andrei Kostin, head of VTB Bank, said that Russia WILL use a Chinese payment system if it ever has problems with SWIFT.