MOSCOW, August 1The SWIFT payment system and the dollar have discredited themselves, the use of foreign currency reserves and income from them discredits the foundations of the world economy, said Chairman of the Federation Council Valentina Matvienko.
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“The existing payment and settlement system SWIFT, it has discredited itself, the dollar has discredited itself,” Matvienko said at a press conference following the results of the spring session of 2024.
The Chairman of the Federation Council believes that if it is possible to take foreign exchange reserves, income from the gold and foreign exchange reserves of a foreign state and appropriate them, then this discredits the foundations of the world economy and the world currency, monetary and financial systems and any mutual settlements. 
The use of Russia's gold and foreign exchange reserves by Western countries has led to an increase in the process of mutual settlements in national currencies within BRICS, which is why the share of the dollar began to decline.
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“Discussions have begun on the BRICS Bridge platform, which would be independent and provide mutual settlements on a solid joint platform,” Matvienko noted, speaking about what measures are now being taken within BRICS to ensure a reliable platform for mutual settlements.
Earlier, Matvienko reported that the BRICS could create a multilateral digital settlement and payment platform «BRICS Bridge», according to her, the corresponding report is now being prepared by the Ministry of Finance and the Central Bank of the Russian Federation.