The US and Australia have expressed concern at a proposal being considered by India - a fellow member of the so-called “Quad” alliance - that would allow Russia to use its own SWIFT-style banking system for bilateral payments with the Asian nation.
Her Australian counterpart, Trade Minister Dan Tehan, added that while he had not yet seen the reports either, “the Quad is incredibly important for the geostrategic environment in the Indo-Pacific”.“One of the things we have to do as democracies is making sure we’re working together to keep the rules-based approach that we’ve had since the Second World War.”
after an online meeting with Modi in which Morrison used his opening remarks to discuss the implications and consequences of the Russian invasion “for our own region in the Indo-Pacific and the coercion and issues we face here”.