Facing international sanctions and disrupted trade routes, Russia is pursuing alternative financial corridors such as the International North-South Transport Corridor (INSTC) and the blockchain-based BRICS Bridge. The BRICS Bridge aims to connect member countries' central bank digital currencies (CBDCs) to enable peer-to-peer transfers without relying on the US dollar, potentially reducing transaction costs by 40%. While the INSTC offers a faster trade route to India via Iran, the BRICS Bridge's progress is slower, with key decisions expected at the upcoming BRICS summit in New Delhi.
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Russia Advances BRICS Bridge and INSTC to Counter Sanctions and Boost Trade
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