The Global Times (Chinese) published (April 30) an article titled "The EU threatens to cut off Russian SWIFT system" (in case of invading the Ukraine). The article also said that due to fear of US sanctions and other reasons, EU companies are not enthusiastic about participating in the INSTEX settlement system. It quoted the German "Economic Weekly" as stating that the European Union, China, Russia and other economies are currently willing to reduce their dependence on the US dollar and the SWIFT system, and have high hopes for the promotion of China's digital renminbi. The European Union also has similar plans.