Russia to create its own national payment system

MOSCOW (AFP) - President Vladimir Putin on Thursday said Russia should create its own national payment settlement system, in a clear bid to become more independent of the West amid the controversy over Moscow's seizure of Crimea.

"In countries such as Japan and China, these systems work, and work very well," M Putin was quoted as saying by Russian news agencies.

"Why should not we do it? We should definitely do it and we will do it," he said, adding that Russia's Central Bank and the government have been looking into the matter.