Russia has announced a platform for circumventing sanctions

The Russian Union of Industrialists and Entrepreneurs (RSPP) is developing a digital platform for confidential international payments. The prototype launch is scheduled for the end of March and will be tested on a group of nearly 30 organizations. A decision on further scaling up the project is planned to be adopted by mid-summer 2023. The mechanism of the platform, as described by RSPP Managing Director Andrey Lisitsin, is following: “Corporations will indicate where and what currency they want to transfer or receive. And financial organizations, not only Russian ones – point out some possibilities in terms of transferring that they can suggest." Anonymity will be system feature, necessary for minimizing sanctioned risks.

Announcements about the creation of this platform were made after the meeting between big business and Vladimir Putin. State support for the development of an international anonymous payment program shows the effectiveness of applied sanctions against Russia. The brief lines about the implementation of the platform, testify the utmost necessity and desire of big business to avoid sanctions isolation from global economy.