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 F2
/ Tuesday , June 24 2025
The U.S. House of Representatives has banned congressional staff from using WhatsApp on government devices due to security concerns, as...
Read More
By F2
/ Tuesday , June 24 2025
Kaspersky found a new mobile malware dubbed SparkKitty in Google Play and Apple App Store apps, targeting Android and iOS....
Read More
By F2
/ Tuesday , June 24 2025
OWASP has released its AI Testing Guide, a framework to help organizations find and fix vulnerabilities specific to AI systems....
Read More
By F2
/ Tuesday , June 24 2025
In a major milestone for the country’s digital infrastructure, Axentec PLC has officially launched Axentec Cloud, Bangladesh’s first Tier-4 cloud...
Read More
By infosecbulletin
/ Monday , June 23 2025
A hacking group reportedly linked to Russian government has been discovered using a new phishing method that bypasses two-factor authentication...
Read More
By infosecbulletin
/ Wednesday , June 18 2025
Russian cybersecurity experts discovered the first local data theft attacks using a modified version of legitimate near field communication (NFC)...
Read More
By infosecbulletin
/ Tuesday , June 17 2025
Cybersecurity researcher Jeremiah Fowler discovered an unsecured database with 170,360 records belonging to a real estate company. It contained personal...
Read More
By infosecbulletin
/ Tuesday , June 17 2025
GreyNoise found attempts to exploit CVE-2023-28771, a vulnerability in Zyxel's IKE affecting UDP port 500. The attack centers around CVE-2023-28771,...
Read More
By infosecbulletin
/ Tuesday , June 17 2025
The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has recently included two high-risk vulnerabilities in its Known Exploited Vulnerabilities (KEV)...
Read More
By infosecbulletin
/ Monday , June 16 2025
SafetyDetectives’ Cybersecurity Team discovered a public post on a clear web forum in which a threat actor claimed to have...
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.