According to a report by Effi, Venezuelan Foreign Minister Ivan Hill stated on April 18th that the central banks of Venezuela and Russia are working to establish a new financial system to replace the international financial platform SWIFT. According to the report, Hill attended a press conference in Caracas with visiting Russian Foreign Minister Lavrov and said, "The technical teams of the central banks of Venezuela and Russia are exchanging financial information to establish a system that will free us from the constraints of the US dollar hegemony on commercial transactions. Hill said that the creation of this system has made" progress ", Banks in both countries have been working hard to create a new system that replaces SWIFT. SWIFT is the foundation of the global financial system, used by approximately 11000 banks in 200 countries and regions for transfers. After the outbreak of the Russia-Ukraine conflict, Russian banks were excluded from this financial platform. (New News Agency)