Russia implemented SWIFT independent payment system (1) (2) and is ready for a SWIFT cutoff (3).
Western powers attempt to maintain their dominance, however recent failures to prove military strength in the missile strikes against Syria have done further harm to the West’s idea of unilateral domination of the world (4).
The G7 (or G8) summits were of greatest importance yet the last disastrous (5) one has shown that the SOC summit has taken over the lead in world geopolitics (6) a trend that has been going on for quite awhile (7).
As long as the US is not cutting off Russia or any other nation, SWIFT will remain the world standard, although more direct payment in local currencies and on local systems will emerge.
The US empire and their NATO alliance are no longer feared by SOC member states or their allies which leads to a new multi-polar world, with dominant player in each area creating their own rule set for associated nations.
US and its allies have eroded trust as too many promises, international laws, and agreements have been broken or ignored. Geopolitical strategy will be formed by the SOC alliance and whoever is willing to share and discuss with them.
References
Russia To Cut Dependence On U.S. Dollar, Payment Systems