Finance Minister Reveals: Russia Uses Bitcoin in Foreign Trade

According to news from Reuters, Russia has allowed the use of cryptocurrencies in foreign trade this year to mitigate the effects of sanctions.
Russian Finance Minister Anton Siluanov announced that Russian companies have begun using Bitcoin and other digital currencies for international payments. This move aims to facilitate trade, which has been complicated by sanctions imposed by the West.
Russia is facing difficulties in maintaining transactions with major trading partners like China and Turkey. Due to sanctions, local banks are cautious and avoid transactions related to Russia. Under new laws, the use of Bitcoin produced in Russia for international trade has been permitted, and steps have been taken to legalize cryptocurrency mining. Russia is emerging as one of the global leaders in Bitcoin mining.
The economic role of cryptocurrencies is increasing.
In an interview with Russia 24 television, Finance Minister Siluanov stated that Bitcoin produced in Russia can be used in foreign trade transactions under an experimental regime. He emphasized that such transactions have begun to take place and need to be expanded, expressing his belief that this trend will further increase next year. He indicated that international payments made in digital currencies will play a significant role in the future.
Earlier this month, Russian President Vladimir Putin accused the U.S. administration of weakening the dollar's role as a reserve currency for political purposes, leading many countries to turn to alternative assets. Citing Bitcoin as an example of such alternative assets, Putin stated that cryptocurrencies are not controlled by anyone globally. His remarks suggest that the Russian leader supports the widespread use of cryptocurrencies.