![Carl Gu on X: "A number of #Russian banks have announced their participation in #China's CIPS system. This means that who want to buy Russian oil have to pay in RMB. #SWIFT Carl Gu on X: "A number of #Russian banks have announced their participation in #China's CIPS system. This means that who want to buy Russian oil have to pay in RMB. #SWIFT](https://pbs.twimg.com/media/FMmtkRdVQAYxx_s.jpg:large)
Carl Gu on X: "A number of #Russian banks have announced their participation in #China's CIPS system. This means that who want to buy Russian oil have to pay in RMB. #SWIFT
HSBM International - www.hsbmeximconsultant.com India, Russia and China are exploring an alternative to the US-dominated SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment mechanism in a bid to smoothen trade with countries
![China's home-grown cross-border yuan payments system aims to expand reach by end of 2021 | South China Morning Post China's home-grown cross-border yuan payments system aims to expand reach by end of 2021 | South China Morning Post](https://cdn.i-scmp.com/sites/default/files/styles/768x768/public/d8/images/methode/2021/09/23/b064f51c-1c10-11ec-897a-4119d31a6faa_image_hires_100335.jpg?itok=54HdYmep&v=1632362625)
China's home-grown cross-border yuan payments system aims to expand reach by end of 2021 | South China Morning Post
![SWIFT Payment System Structure. In the light of the invasion of Ukraine… | by Christopher J. | DataDrivenInvestor SWIFT Payment System Structure. In the light of the invasion of Ukraine… | by Christopher J. | DataDrivenInvestor](https://miro.medium.com/v2/resize:fit:1400/1*ePUQpBJMe0hRc-lDXlP-Iw.png)
SWIFT Payment System Structure. In the light of the invasion of Ukraine… | by Christopher J. | DataDrivenInvestor
![Lillian Li on X: "7) The bull case for CIPS is that it gets the messaging service up and running, and stops using SWIFT. Russia and other countries facing dollar hegemony heat Lillian Li on X: "7) The bull case for CIPS is that it gets the messaging service up and running, and stops using SWIFT. Russia and other countries facing dollar hegemony heat](https://pbs.twimg.com/media/FMsG8jQVIAMfxN_.png)