Russia Will Set Up Their Own Banking Systems Russian News Sources: (CIPS) Is a Chinese Government Payment System That Specializes in Enabling Cross-Border Payments in the National Currency of China

While certain countries (such as the United Kingdom, Poland, and Lithuania) are lobbying hard for Russia to be kicked out of SWIFT, the worldwide electronic payment-messaging system, many others are wary of pursuing the so-called "nuclear option" for fear of negative consequences.

The “Nuclear Option” for Sanctions Has Been Described as the Expulsion of Russia From Swift, the Global Electronic Payment-Messaging System. That Utopian Thinking — China and comes via ChinaTechNews.com.