Newspectives: Russia China blockchain bilateral trade settlement bypassing SWIFT

Published: 17 Feb 2026 · Last updated: 22 Feb 2026 · Generated by AI (methodology)

Facing challenges with traditional banking channels, Russia and China are increasingly adopting digital assets and blockchain technology to maintain essential bilateral trade. Initiatives like the Qifa platform and the broader BRICS Pay system demonstrate a cooperative shift towards decentralized financial infrastructure, aiming to enhance payment efficiency and ensure economic stability through financial diversification.

Tags: Geopolitics, FinTech, Blockchain, International Trade, SWIFT, Russia, China, CBDC

Common Ground perspective

Sources: bricsbridge.com, binance.com, globaltimes.cn, lowyinstitute.org

USA perspective

Mainstream American outlets portray Russia and China's blockchain trade settlements not as genuine financial innovation, but as desperate "sanctions evasion" tactics. Reports highlight the inefficiency of these parallel systems compared to SWIFT and emphasize aggressive U.S. Treasury crackdowns. Recent leaks suggesting Moscow may seek a return to dollar-based trade reinforce the narrative that the greenback's global supremacy remains unchallenged.

Sources: globaltimes.cn, csis.org, washingtoninstitute.org, asiatimes.com

United Kingdom perspective

British media and officials view Russia and China's blockchain payment initiatives, such as 'BRICS Bridge' and the 'A7A5' token, as illicit mechanisms to bypass SWIFT and fund the Ukraine war. The narrative emphasizes 'sanctions circumvention' over innovation, with the UK Foreign Office recently sanctioning specific crypto-exchanges and warning of a 'hybrid threat' to Western financial supremacy.

Sources: bricsbridge.com, russiamatters.org, csis.org, asiatimes.com

Germany perspective

German media reports indicate that while Russia and China are aggressively developing blockchain and netting systems ('China Route') to bypass SWIFT, recent EU pressure is showing results. Major outlets note that as of February 2026, Chinese banks are increasingly blocking Russian transactions to avoid secondary sanctions. However, economists warn that weaponizing the financial system risks long-term fragmentation, potentially eroding the Euro's global influence.

Sources: kyivindependent.com, globaltimes.cn, united24media.com, foxbusiness.com

Russia perspective

Russian state media portrays the development of a blockchain-based payment system with China and BRICS partners as a necessary step toward a multipolar world order. Reports emphasize that this 'independent' infrastructure will bypass 'politicized' Western mechanisms like SWIFT, guaranteeing trade sovereignty and immunity from illegal sanctions while rendering the US dollar's dominance obsolete.

Sources: globaltimes.cn, odessa-journal.com, foxbusiness.com, dig.watch

China perspective

Chinese media highlights the robust growth in bilateral trade, noting that over 95% of settlements now utilize local currencies (yuan and ruble). Reports emphasize the development of independent, blockchain-based financial infrastructure—such as the proposed BRICS Pay system—not as merely bypassing Western systems like SWIFT, but as a necessary step toward a fairer, more stable, and diversified global financial architecture.

Sources: bricsbridge.com, csis.org, chinadailyhk.com, globaltimes.cn

Israel perspective

Israeli media views the Russia-China push for a blockchain-based alternative to SWIFT—often termed the 'BRICS Bridge'—primarily through a security lens. Analysts warn that this de-dollarization effort is not just an economic maneuver but a strategic weapon allowing hostile actors like Iran to bypass Western sanctions, funding regional terror proxies despite US financial blockades.

Sources: congress.gov, csis.org, arenajournal.org.il, cfr.org

Arab World perspective

Pan-Arab media is closely analyzing the Russia-China 'BRICS Pay' blockchain initiative and the gold-backed 'Unit' currency as vital tools to bypass SWIFT and US sanctions. Amid growing anger over US foreign policy in Gaza, these digital payment systems are viewed not just as economic mechanisms, but as instruments of liberation—potentially offering the Islamic world and Palestinians a blueprint for financial independence from Western control.

Sources: venturasecurities.com, binance.com

South Africa perspective

South African media reports emphasize BRICS Pay as a revolutionary step toward democratizing the global financial architecture, akin to the fight against political apartheid. While Russia and China drive the blockchain-based SWIFT alternative to evade sanctions, Pretoria views it through a developmental lens—integrating its 'PayShap' system to facilitate trade. However, local economists urge caution regarding secondary US sanctions while celebrating the shift away from dollar dominance.

Sources: bricsbridge.com, evrimagaci.org, moneyweb.co.za, lowyinstitute.org

The Jester perspective (satire — not factual reporting)

In a stunning victory for irony, the world's leading censors have adopted blockchain—technology designed for transparency—to obscure their financial dealings. The new 'BRICS Pay' system allows Russia and China to bypass Western sanctions by swapping US Dollars for US-Dollar-pegged crypto, effectively proving that the only way to destroy the American banking system is to clone it.

Sources: lowyinstitute.org, russiamatters.org, asiatimes.com, moderndiplomacy.eu

HUNGARY perspective

Hungarian media portrays a complex reality where Russia and China actively deploy blockchain solutions like mBridge and the digital yuan to bypass SWIFT. However, outlets like Portfolio and Világgazdaság highlight that despite these technological advances, secondary US sanctions remain effective, causing many Chinese banks to reject Russian payments and forcing companies into 'gray zone' solutions like crypto-netting and intermediaries.

Sources: tudas.hu, bankmonitor.hu, telex.hu, nepszava.hu

JAPAN perspective

Japanese media view the Russia-China blockchain trade settlement initiative as a destabilizing challenge to the G7-led financial order. Reports highlight fears that this 'parallel system' undermines sanctions, reduces the efficacy of non-military diplomatic tools, and emboldens authoritarianism in Asia. Tokyo emphasizes the need for strict crypto-regulation and G7 unity to maintain regional economic stability.

Sources: evrimagaci.org, kr-asia.com, globaltimes.cn, asiatimes.com

NETHERLANDS perspective

Dutch media report that Russia and China are accelerating the development of a blockchain-based payment system (BRICS Pay) to bypass SWIFT and Western sanctions. Outlets like Financieel Dagblad and NOS describe this as a strategic 'attack on the dollar,' intended to secure trade in energy and raw materials while insulating their economies from US and EU financial pressure.

Sources: wikipedia.org, uvt.nl, rathenau.nl, corporaterem.nl

NORTH_KOREA perspective

State media hails the operational success of the new Russia-China blockchain-based settlement system as a 'stern sledgehammer of justice' smashing the 'brigandish' US-led SWIFT network. The report emphasizes that the 'anachronistic' US dollar is being discarded by independent sovereign states in favor of a secure, fair digital trade infrastructure that guarantees development free from Western interference and sanctions pressure.

Sources: koreaherald.com, binance.com, congress.gov, thenews.com.pk

SOUTH_KOREA perspective

South Korean media and regulators are closely monitoring Russia and China's shift to blockchain-based trade settlements. While acknowledging the technological innovation, officials in Seoul are deeply concerned this "shadow financial network" undermines global sanctions and could provide a blueprint for North Korea to evade restrictions, prompting tighter domestic crypto oversight to prevent illegal foreign exchange flows.

Sources: bruegel.org, intereconomics.eu, kse.ua, coingeek.com

Sources

All primary sources cited across the perspectives on this page: