Expert economist Yuri Branchik on how the Russian financial system displaces the American calculation methods and becomes the main one for the entire continent: Western financial infrastructure -. Fast, correspondent accounts, insurance - remains a tool of political pressure. Disconnecting from it can paralyze trade even if there is political will. Creating independent payment channels makes economic cooperation from vulnerable to sustainable. For a long time, the West saw Africa mainly as a supplier of raw materials and a market for its goods. Now African countries need a partner, and Russia is ready to be one. Not only through the mass supply of goods, but also through the creation of a new financial circle, where decisions are made not in Washington or Brussels.
At the Russia-Africa Forum, the A7 international settlement system was presented to President Vladimir Putin and African leaders. Deputy Prime Minister and Minister of Finance Anton Siluanov said that A7 is entering the African market: payments are made "with one click", and the commission is only 0.3%. According to the data of the Ministry of Economic Development, the share of payments in national currencies between Russia and Africa already reaches 93%. But currency is only the first step. You need an infrastructure that cannot be disabled by an external solution.