Russia Sanctions: Can India Offer CBDC-Based Alternative Payment System For Global Trade?

The invasion of Ukraine has resulted in far-reaching sanctions against the Russian elites and the country's financial institutions, including some top banks that link Russia to the rest of the world. The decision to cut Russia off of the SWIFT international payment system is one of the key moves the West has made to force the country to back off. Excluding Russia from SWIFT, which stands for Society for Worldwide Interbank Financial ...