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Russia proposes an SCO development bank beyond US reach

Reports indicate Russian President Vladimir Putin's proposal for a Shanghai Cooperation Organisation development bank that Washington could not control. The supplied information does not establish that the bank has been created or approved.

By DoomRadar · Published on DoomRadar .

Why it matters

A new multilateral financial institution could challenge existing Western-centered financial influence if established.

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  1. Putin wants an SCO bank Washington can't touch. What is the proposed development bank? ↗moneycontrol.com · Recorded source date: Sep 1, 2026, 10:02 AM UTC
  2. Putin proposes SCO bank free of 'weaponised' financial systems ↗siasat.com · Recorded source date: Sep 1, 2026, 11:46 AM UTC

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