Fradkov's Remarks Highlight Moscow's Ongoing Push to Reduce Dependence on Western Financial Systems Amid Escalating Economic Pressure

Petr Fradkov, CEO of Promsvyazbank, has detailed how the Russian bank's new payment system, A7, enables cross-border transactions without relying on Western infrastructure such as SWIFT or dollar-based instruments, while staying within the bounds of existing sanctions. In an interview with Russian business media, Fradkov explained that A7 is designed to be invulnerable to the weaponized use of the US dollar, offering an alternative channel for international payments. The system reportedly operates without technically violating any sanctions, providing a workaround for Russian entities facing financial restrictions. Fradkov's remarks highlight Moscow's ongoing push to reduce dependence on Western financial systems amid escalating economic pressure.