The US dominance of international financial transfers known as SWIFT has been affected by its weaponization of its dollar, including sanctions against nations such as Russia.
This has been going on for at least a decade, so Russia and other nations have taken steps.
China and the BRICS group have been working that for some time as reported last year:
Can BRICS Pay become a challenger to SWIFT?
October 30, 2024
Countries in today’s globalized economy are increasingly interdependent, relying on international payment networks to facilitate cross-border transactions. SWIFT, headquartered in Brussels, Belgium, is the most widely used payment network, processing transactions predominantly in US dollars.
Although it operates from Europe, SWIFT is influenced by the US Federal Reserve, the European Central Bank, and other G-10 financial authorities, which allows the US considerable sway over the system. This influence has been described as the “weaponization” of SWIFT, as control over global payments can have strategic consequences. …
Russia has been working to insulate itself from SWIFT dependency since it annexed Crimea in 2014. This initiative led to the development of the System for Transfer of Financial Messages (SPFS), an alternative platform created by Russia’s central bank. Currently, SPFS connects 557 banks and companies, including 159 foreign entities, with 160 banks worldwide participating in the system.
China has similarly developed its own alternative with the Cross-Border Interbank Payment System (CIPS), launched in 2015. By 2021, CIPS had processed a significant 80 trillion yuan (approximately $12.8 trillion), connecting 1,280 financial institutions across 103 countries. Among these are 30 Japanese banks, 23 Russian banks, and 31 African banks, marking its wide international reach.
The origins of BRICS Pay
Events like the US’s recent seizure of Afghan reserve funds and frozen Russian assets have highlighted the vulnerability of dollar-denominated reserves, undermining trust in dollar debt as an international savings tool. This experience has prompted many nations to seek alternative trade settlement and currency security systems.
In response to this shifting landscape, the announcement of BRICS Pay from Kazan, Russia, marks a significant milestone in the ongoing efforts to diversify global payment networks beyond the established US dollar-dominated systems.
The BRICS Plus Summit of heads of state was held in Kazan, Russia, from October 22 to 24, 2024. The Kazan summit marked the first post-expansion gathering for BRICS, highlighting initiatives like the introduction of “BRICS Pay,” which aimed to fortify economic and trade ties within the group.
The introduction of BRICS Pay aims to challenge SWIFT’s global monopoly and reduce dollar dominance, positioning it as a significant step towards financial autonomy for BRICS nations.
However, BRICS Pay cannot yet replace SWIFT entirely unless BRICS members agree on a unified or common currency—a challenging task given the economic disparities among member countries. https://www.tbsnews.net/thoughts/can-brics-pay-become-challenger-swift-980256
Notice that Europe theoretically controls SWIFT. That also means that Europe could interfere with the US’ own ability to use it. Now, notice the following news item:
EU and India Bypass SWIFT-USD Payment Rails
November 26, 2025
The European Central Bank has entered new territory by moving to link its TARGET Instant Payment Settlement system with India’s UPI network, marking the first time the EU’s instant-payments infrastructure has been directly connected with a BRICS nation.
GFN–Mumbai: India and the Euro Area have agreed to begin formal work on linking the country’s Unified Payments Interface (UPI) with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) rail, according to a statement released by the Reserve Bank of India. The move will create a direct cross border instant payment channel between INR and EUR retail systems once technical integration is completed.
The RBI said it has been working with NPCI International and the European Central Bank to align the project with the G20 roadmap that focuses on faster and cheaper remittances. The UPI–TIPS link will allow users in both jurisdictions to send and receive low value payments without relying on SWIFT messaging. …
The decision by the Reserve Bank of India and the European Central Bank to interlink UPI with TIPS is not a marginal development in global payments. It is a fully operational bridge between two sovereign instant-settlement systems, one belonging to a major emerging-market economy and the other belonging to the Euro Area.
The connection creates an alternative path for INR–EUR flows that operates without SWIFT messaging, without USD intermediated conversion, and without the historical dependence on correspondent banks concentrated in the United States. …
The ECB has rarely extended the internal architecture of its instant-settlement systems to non-European jurisdictions. TIPS was designed as a pan-European retail rail that would reinforce SEPA Instant and improve the cohesion of the monetary union. …
Europe does not broadcast its geopolitical hedges. It engineers them. The past decade has shown the Euro Area the risks of dependency on single-point external systems, whether those were energy supply networks or global financial messaging networks. The U.S. use of extraterritorial sanctions, the Iran episode, and the broader conversation about strategic autonomy have encouraged Europe to diversify its financial plumbing discreetly. https://www.zerohedge.com/news/2025-11-24/eu-and-india-bypass-swift-usd-payment-rails
Before going further, let me add that at least five nations joined the SEPA (Single Euro Payments Area) year and we made the following video:
14:55
Euro vs Dollar: And the winner is?
In October 2025, the European Payments Council of the European Union announced that four more nations were entering into Single Euro Payments Area, also known as SEPA. This brings the total to 41 nations, representing 550 million people that are in SEPA. SEPA does not cover payments in currencies other than the euro, hence this is a euro promoting group. In 2025, the euro has gained 12-13% vs. the US dollar which has declined. Factors such as US financial policies, tariffs, debt, Donald Trump, and threats have been cited as factors. While the euro can drop in value, many are wondering if the euro will replace the US dollar as the world’s reserve currency? Bloomberg has asserted, “There Is an Alternative to the Dollar — It’s the Euro.” IN addition to SEPA, nations in the BRICS+ alliance are also pushing to reduce, and eliminate, the use of the US dollar in cross-border trade–BRICS+ represents 4.45 billion people–between BRICS+ and SEPA, that is about a total of 5 billion people or 62.4% of the world’s population, that are in organizations that are working to reduce use of the US dollar. Plus there are other nations such as Iran, Venezuela, and North Korea, who want to do that as well. Back in 1971, the old ‘Plain Truth’ magazine warned, “A ‘United States of Europe’ possessing one single currency – a currency so strong that it will replace the U. S. dollar as the kingpin currency of world trade.” Europe did come up with its own currency and we are seeing it increasingly used for cross-border trade. The massively negative impact on the US economy for its dollar to be dethroned as the world’s primary reserve and trading currency would be real. Does this align with biblical prophecies? Dr. Thiel, himself, warned in December 2024, that in 2025, “US Dollar Dominance will Decrease,” and it has. In this video, Steve Dupuie and Dr. Thiel discuss these matters as well possibly when the US dollar may be dethroned and that a European currency, with some type of at least implied gold backing, may replace it.
Here is a link to our video: Euro vs Dollar: And the winner is?
The end of US dollar dominance is coming. 41 nations in SEPA is another block (like BRICS+) that is working to bypass the USA dollar.
That said, let me add that these moves can wreak havoc on the economy of the US. Notice something I posted about that back in 2019:
Can this hurt the USA?
Yes. By having alternatives to US dollar-dominated financial systems, it provides openings for others to not use the US dollar and hence decrease wealth that the US gets from its dominance of international finance.
Are these moves away from SWIFT simply Russian and Chinese propaganda?
No.
Notice something from the Wall Street Journal:
Brussels and European Union states seem ready to stage a battle with Washington over an obscure but important financial-service network—against Europe’s own interests.
The looming brouhaha concerns Swift …
Swift is particularly prone to U.S. pressure because the American financial system looms so large in the world. Swift’s board includes representatives of European and American banks, and many messages across its network travel to or from the U.S. Some Europeans believe Washington wields too much influence over a network they think should operate on a multilateral consensus like a financial EU. 10/17/18 https://www.wsj.com/articles/europes-not-so-swift-diplomacy-1539730896
Here is some information about SWIFT:
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. SWIFT also sells software and services to financial institutions, much of it for use on the SWIFTNet network, and ISO 9362. Business Identifier Codes (BICs, previously Bank Identifier Codes) are popularly known as “SWIFT codes”.
The majority of international interbank messages use the SWIFT network. As of 2015, SWIFT linked more than 11,000 financial institutions in more than 200 countries and territories, who were exchanging an average of over 15 million messages per day (compared to an average of 2.4 million daily messages in 1995). (Society for Worldwide Interbank Financial Telecommunication. Wikipedia, retrieved 04/01/19)
Basically, most international cross-border payments seem to use SWIFT.
Because of US sanctions and threats of sanctions, and its pressure on SWIFT, many nations are looking to develop ways to bypass it. (Thiel B. ‘SWIFT end’ as Russian banks move towards Chinese financial system? Can this hurt the USA? COGwriter, April 1, 2019)
In that post, I also had the following from 2018:
US Sanctions and Tariffs leading to New World Order?
Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy show that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more. Here is a link to our video: US Sanctions and Tariffs leading to New World Order?
Since those came out, the BRICS group has expanded, the US put in more sanctions, and we are seeing more steps being worked on by more and more of the world to bypass the US dollar and to bypass the SWIFT system.
When she was US Secretary of State, Hillary Clinton used to brag about how the US could use its so-called ‘soft-power,’ which mainly means imposing Washington’s will through economic blackmail and other pressures.
While that may seem successful in the short-run, in the long run it pushes nations away from the US.
Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for decades because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.
Last Fall, we put out the following SWIFT related video:
14:50
SWIFT end to the US dollar?
After World War II, the US dollar became the world’s primary international trading currency. In this video Dr. Thiel and Steve Dupuie go over some of the reasons for that development. They also discussed US dominance of SWIFT. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions. The use of sanctions and the weaponization of SWIFT by the US is brought out as are alternatives to SWIFT development by Russia (System for Transfer of Financial Messages-SPFS) and China (Cross-Border Interbank Payment System-CIPS). Also the BRICS Pay alternative to SWIFT, mentioned at the BRICS Kazan Summit in October 2024 was mentioned as well as “the Unit”, which is a potential gold-backed currency that Vladimir Putin brought up as another alternative. An article titled ‘The Biggest Story that’s NOT Being Told Will WREAK HAVOC on the US Economy’ was discussed along with the specter of extreme inflation hitting the US once its dollar is no longer relied on internationally. The fact that SWIFT is supposed to be a European system, and one that Europeans want more control of, was mentioned along with the fact that the Europeans could also push harder for the end of SWIFT and/or the US dollar dominance. The timing of the coming Great Tribulation and US banking/financial matters was also mentioned.
Here is a link to our video: SWIFT end to the US dollar?
The time is coming when the USA dollar will no longer remain “king.” This will greatly impact the economy of the USA.
As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).
Some items of possibly related interest may include:
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy as are two video sermonettes Russia, Ukraine, Babylonian Europe, and Prophecy and Ukraine in Prophecy?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the Bible, Europe In Prophecy, The End of European Babylon, and Can You Prove that the Beast to Come is European?
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