The Weaponization of the US Dollar: Is India’s UPI the Putin Alternative?

Russia challenging the dollar’s dominance, could India’s UPI be the secret weapon — and how will China react?

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Since the Russian invasion on Ukraine has started, the US-led West has tried to isolate Russia But Russian President Vladimir Putin scored a major win despite ongoing Western efforts to isolate him.At the recently concluded BRICS summit, hosted in the Russian city of Kazan, Putin seized the opportunity to address a growing concern:

The weaponisation of the dollar. He say?

BRICS nations should ditch the Western banking system, which is created for their own benefit.

Over the years, “The dollar was used as a weapon,” Putin says

After Russia’s invasion of Ukraine in 2022, Western nations didn’t just sanction the country — they cut off seven Russian banks from SWIFT, the global financial messaging system that keeps international money transfers running smoothly. This effectively severed Russia from global trade.However, neutrality doesn’t mean SWIFT which was created in 1973 by a consortium of U.S. and European banks, and when Western nations decide to sanction a country — as they did with…