{
Hongkong AND Shanghai Banking Corporation Ltd. -THE

Companies

}

BIS withdraws from digital payment project after Putin's remarks on sanctions

The Bank for International Settlements has withdrawn from a digital cross-border payments project after Russian President Vladimir Putin highlighted its potential to bypass sanctions and challenge the dollar's dominance. The remaining countries involved—China, Thailand, Saudi Arabia, Hong Kong, and the UAE—will continue to develop the initiative independently, with China providing the essential technology.
bloomberg.com
United States Dollar Saudi Arabian Monetary Authority Bank for International Settlements China Construction Bank Corporation Hongkong AND Shanghai Banking Corporation Ltd. -THE HKG ARE CHN THA SAU Vladimir Putin Show more
Finance & Economy, News Article
11:30 31.10.2024
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