Russia's developing position in the BRICS, faced with unprecedented Western sanctions ever meted to any country, is in turn upending the Bretton Woods system, which controls international banking and trade through the International Monetary Fund, World Bank, and the Worldwide Interbank Financial Telecommunication (SWIFT) system. Particularly after being kicked out of the SWIFT system, over US$300 billion worth of its assets frozen following the Ukrainian war and withdrawal of major Western global brands, Western financial hegemony has isolated Russia to a potential near economic bankruptcy status. In turn, Russia is zealous about the establishment of alternative financial channels including currency swaps, local currency trading, and advocates for a more active BRICS role in economic cooperation by and through BRICS institutions like the New Development Bank (NDB).