20 15 Russia decided to include RMB in its foreign exchange reserves. In June, 20021,major Russian banks decided to access the RMB cross-border payment system. However, although Russia was connected to the RMB cross-border payment system before, it was basically settled in US dollars. Things are different now. After being sanctioned by SWIFT, RMB or Euro has been used for settlement.

On the evening of February 26th, the White House issued a statement that it would impose "devastating sanctions" on Russia and unite with France, Germany, Italy, Britain, Canada and other countries. When several major Russian banks were removed from the SWIFT international settlement system, the ruble instantly fell by 28%.

This sanctions plan has dealt a great blow to Russia. At the beginning, several major Iranian banks were sanctioned by SWIFT, which made it impossible to conduct international trade and caused serious economic difficulties.