Forming a New System of Financial Settlements between Russia and the Global South Countries

DOI: 10.33917/es-5.203.2025.20-27

The article examines transformation of the international financial settlement system, catalyzed by anti-Russian sanctions. Formation of a new global financial system is facing resistance from the beneficiaries of the existing world order, but there are ways to bypass the barriers being erected. Fur ther development will require complete replacement of Western financial instruments and institutions in the markets and jurisdictions of non-Western countries.

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