Russia and its trade partners are developing new financial systems and currencies to get around economic pressure from the West, particularly the United States and Europe. These efforts aim to reduce the world's dependence on the US dollar and Western-controlled financial networks, allowing Russia to keep its economy running despite sanctions. This move began in 2014, when the West imposed trade restrictions on Russia after it reunified with Crimea. The sanctions intensified in 2022, following Russia's military actions in Ukraine, but Moscow has been finding ways to adapt and keep trade flowing.

One of Russia's key strategies has been developing its own financial systems to replace those controlled by the West. Russia’s central bank governor, Elvira Nabiullina, highlighted that since 2014, Russia has worked to create its own systems to minimize the risks of relying on global financial networks, which could be used as tools of economic warfare by the West. 

One such syst...