Sanctions-proof payment rails

Because U.S. sanctions leverage SWIFT chokepoints, rivals build alternative clearing. China accelerates CIPS, cross-border CBDC pilots (e.g., mBridge), and bilateral RMB settlement to cut dollar exposure and blunt sanctions reach. — This reconfigures global financial plumbing, dilutes U.S. coercive leverage, and forces governments and firms to revisit compliance, alliances, and risk management.