Iran Press/ Europe: On February 24, Russian President Vladimir Putin said in an early morning televised address that he had launched a special military operation in Ukraine in response to a request for help from the leaders of the Donbas republics. He stressed that Moscow had no intention of occupying Ukrainian territories, the sole purpose of the operation, the leader stressed, is the demilitarization and denazification of Ukraine.
The United States, the United Kingdom, the European Union, and some other countries responded by imposing sanctions on Russian individuals and companies.
On Friday, Finance Minister Anton Siluanov told a ministerial meeting with BRICS, which consists of Brazil, Russia, India, China and South Africa, that the global economic situation had worsened substantially due to the sanctions, the ministry's statement said.
The new sanctions also destroy the foundation of the existing international monetary and financial system based on the U.S. dollar, Siluanov said.
"This pushes us to the need to speed up work in the following areas: the use of national currencies for export-import operations, the integration of payment systems and cards, our own financial messaging system and the creation of an independent BRICS rating agency," Siluanov said.
International payment cards Visa and MasterCard suspended operations in Russia in early March and Russia's biggest banks have lost access to the SWIFT global banking messaging system.
Russia set up its own banking messaging system, known as SPFS, as an alternative to SWIFT. Its own card payment system MIR began operating in 2015. 219
