PSB Chief Calls Payment Systems 'New Warfare' Tool

PSB Bank Chairman Petr Fradkov called the cross-border payment system an instrument of 'new war'.

Consensus

Petр Fradkov, chairman of PSB (Promsvyazbank), stated that international payment systems have become instruments of 'new warfare'.
Fradkov emphasized that financial systems are now used for political pressure and control over transactions.
The global financial system is described as being dominated by a few players, creating an oligopoly.
Countries are moving toward creating their own payment systems to ensure independence from Western financial infrastructure.
Fradkov mentioned that the shift is driven by the need for security and economic autonomy, especially in light of sanctions against Russia.
The creation of PSB's A7 system was prompted by the need for independent cross-border payment infrastructure.
Fradkov noted that moving away from the dollar does not guarantee financial independence due to continued reliance on external compliance and liquidity mechanisms.
The world is undergoing a 'global shift' toward a new payment system framework, independent of sanctions against Russia.

First Deputy Chairman of the Central Bank of Russia, Vladimir Chistyukhin, spoke at the St. Petersburg International Economic Forum (PMEF) about the need for Russia to develop its own innovations to avoid dependence on Western companies and rules. — vedomosti
The Financial Times explicitly and clearly stated that the dollar is an instrument of this war. — tg_tass_agency
Vladimir Putin signed a law regulating digital currencies and digital rights in Russia, with most provisions taking effect on September 1, and some later. — m24
Fradkov stated that financial sanctions against Russia were the strictest among all sanctions, including logistical ones. — tg_rian_ru
Fradkov stated that financial sanctions against Russia are the strictest among all sanctions, even including logistical ones. — m24