A leading banker has called on Moscow to completely shun SWIFT, the financial messaging system widely used for international transactions. Andrey Kastin, CEO of Russia’s second largest bank VTB, called for this.
Kastin has been demanding the use of local currencies instead of dollars in trade with Russia’s allies for some time. He was addressing an international banking forum in Sochi, Russia yesterday (Friday, 29 September).
By infosecbulletin
/ Wednesday , June 4 2025
IBM has issued a security advisory for vulnerabilities in its QRadar Suite Software and Cloud Pak for Security platforms. These...
Read More
By infosecbulletin
/ Wednesday , June 4 2025
As Bangladesh prepares for the extended Eid-ul-Adha holidays, the BGD e-GOV Computer Incident Response Team (CIRT) has issued an urgent...
Read More
By infosecbulletin
/ Tuesday , June 3 2025
In March 2025, the Threatfabric mobile Threat Intelligence team identified Crocodilus, a new Android banking Trojan designed for device takeover....
Read More
By infosecbulletin
/ Tuesday , June 3 2025
Qualcomm has issued security patches for three zero-day vulnerabilities in the Adreno GPU driver, affecting many chipsets that are being...
Read More
By infosecbulletin
/ Monday , June 2 2025
Roundcube Webmail has fixed a critical security flaw that could enable remote code execution after authentication. Disclosed by security researcher...
Read More
By infosecbulletin
/ Sunday , June 1 2025
A hacker known as "303" claim to breach the company's systems and leaked sensitive internal data on a dark web...
Read More
By infosecbulletin
/ Sunday , June 1 2025
CISA and ACSC issued new guidance this week on how to procure, implement, and maintain SIEM and SOAR platforms. SIEM...
Read More
By infosecbulletin
/ Saturday , May 31 2025
The Qualys Threat Research Unit (TRU) found two local information-disclosure vulnerabilities in Apport and systemd-coredump. Both issues are race-condition vulnerabilities....
Read More
By infosecbulletin
/ Saturday , May 31 2025
New ransomware payment reporting rules take effect in Australia yesterday (May 30) for all organisations with an annual turnover of...
Read More
By infosecbulletin
/ Saturday , May 31 2025
Global makers of surveillance gear have clashed with Indian regulators in recent weeks over contentious new security rules that require...
Read More
ALSO READ:
FBI, CISA, NSA warn of Chinese hackers backdooring Cisco routers
Kastin said: “We need to kill Swift in our transaction system. The matter is very simple. But for that, Russia and its allies need to take concrete steps.”
This leading Russian banker said that most of the transactions with China, Indonesia and India as well as Arab and African countries have been done in ruble.
According to Kastin, more and more countries will gradually join the process. He said, these countries will understand that they can be the next target of using dollar and euro as political tools of the West.
After Russia launched a military operation in Ukraine in February 2022, the US and European countries imposed tough sanctions against Moscow. These countries unanimously decided to expel Russia from SWIFT.
In response, Moscow made it mandatory for all countries to use the Russian currency, the ruble, to do business with it.