The Eurasian trade alliance would cut dependence on the West and build reliable conditions for business, Moscow says
Russian Prime Minister Mikhail Mishustin has proposed setting up a joint payment network within the Shanghai Cooperation Organization (SCO) and has urged member states to speed up the transition to using national currencies in trade.
“Our common task is to gain independence from the influence of third countries in the financial sector. For that purpose, we suggest creating a digital system for the exchange of financial information and payment transactions within the SCO,” the head of the Russian government said on Tuesday.
Mishustin proposed using national platforms for interbank communications as new channels for transactions. The move, according to the official, would help cut reliance on the Western financial system and ensure “more predictable, clear and reliable conditions” for businesses within the SCO.
READ MORE: Russian president calls for alternatives to SWIFT
The prime minister also wants to accelerate the transition to settlements in national currencies in order to move away from the US dollar and euro. He noted that Russian President Vladimir Putin stressed last week that settlements in national currencies would gain momentum and gradually become dominant across the globe.
Speaking at the Valdai discussion club last Thursday, Putin also called for new independent financial platforms for international settlements, adding that alternative and decentralized systems would eliminate the possibility of manipulating the global financial infrastructure.
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https://www.rt.com/business/565737-russia-suggests-sco-create-new-payment-system/
US Army Secretary Dan Driscoll is preparing to leave the Trump administration after what a new report has described as months of tension with Secretary of War Pete Hegseth, potentially triggering another change at the army’s top echelons.
According to the Friday report by The Wall Street Journal, Driscoll is expected to step down before the end of the year and could leave his post earlier. The newspaper cited people familiar with discussions over his departure.
The Journal reported that Driscoll and his family vacated the official residence assigned to the army secretary at Joint Base Myer-Henderson Hall this summer, a move that could indicate he was preparing to leave the position.
The reported departure would come at a time of continuing uncertainty at the top echelons of the army.
Hegseth abruptly removed Army Chief of Staff Gen. Randy George in April, while Trump has not yet nominated a permanent successo....more below
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The Islamic Revolution Guards Corps (IRGC) warns the enemies that any act of aggression against the Islamic Republic will not go unanswered.
In a statement on Thursday, the IRGC issued a “stern warning” to the enemies after US forces launched strikes against the southern Iranian port city of Bandar Abbas.
Following the US military attack on a point on the outskirts of Bandar Abbas Airport with aerial projectiles, the IRGC carried out new strikes targeting the US air base from which the attack originated in the wee hours of Thursday, it added.
“This response is a serious warning to the enemy that they should know the act of aggression will not go unanswered,” the IRGC emphasized.
The elite military force warned of a “more decisive” response if the enemy repeated any act of aggression.
It also said the responsibility for the consequences of any IRGC response lies with the aggressor.
The statement comes after the IRGC Navy on Thursday forced an American tanker to turn back. The tanker ...
