Russian payment systems under sanctions and their methods of resistance

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Abstract

In the context of mounting pressure on the Russian financial sector, the issues of sustainability and adaptation of national payment systems have assumed paramount importance. This article presents an analysis of the methods employed by Russian payment systems in order to mitigate the impact of sanctions. The article examines the role of the key payment system, "Mir", in ensuring Russia's financial independence from SWIFT, as well as the search for alternative partners and markets for integration. It considers possible innovations and strategic steps, including the use of the digital ruble, the development of regional financial alliances and the creation of independent infrastructures for international settlements. Particular attention is paid to the practice of expanding the use of Russian payment systems in friendly countries, as well as measures to strengthen their technological and operational security.

About the authors

Evgeniy Dmitrievich Ignatov

Peoples' Friendship University of Russia
named after Patrice Lumumba (RUDN University)

Author for correspondence.
Email: 1132210636@pfur.ru
ORCID iD: 0009-0007-4492-2006

Bachelor's student at the Faculty of Economics at the Peoples' Friendship University of Russia, Russian Federation

117198, Moscow, Miklukho-Maklaya str., 6

Ruslan Rafikovich Zalyaev

Peoples' Friendship University of Russia
named after Patrice Lumumba (RUDN University)

Email: 1132220960@pfur.ru
ORCID iD: 0009-0009-2115-9620

Bachelor's student at the Faculty of Economics at the Peoples' Friendship University of Russia, Russian Federation

117198, Moscow, Miklukho-Maklaya str., 6

Vladimir Mikhailovich Pizengolts

Peoples' Friendship University of Russia
named after Patrice Lumumba (RUDN University)

Email: pizengolts_vm@pfur.ru
ORCID iD: 0000-0002-8913-7032
SPIN-code: 9286-1315
Scopus Author ID: 57202913911

Doctor of Economics, Professor at the Department of Finance and Credit, Faculty of Economics, Peoples' Friendship University of Russia

117198, Moscow, Miklukho-Maklaya str., 6

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