Russian President Vladimir Putin.
Russian President Vladimir Putin.
  • Russia faces intense pressure from sanctions targeting payment systems.
  • A top Russian banker says the country should stop talking about payment mechanisms due to sensitivity.
  • Russia is seeking alternatives to Western payment systems, acknowledging the challenge and time required.

Russia's top financial officials admitted the country is under huge pressure from sanctions as their methods for making trade payments keep getting shut down.

On Wednesday, a top Russian banker said the methods should be made a "state secret" due to their sensitivity, Reuters reported.