Russia Turns to Bitcoin for Foreign Trade Amid Western Sanctions
2024-12-25
MSN
In a bid to counter Western sanctions, Russian companies are now utilizing bitcoin and other digital currencies for international payments. According to Finance Minister Anton Siluanov, this move follows recent legislative changes that permit the use of cryptocurrencies in foreign trade. As the country explores alternative payment methods, the use of bitcoin and other digital currencies is expected to increase, potentially reducing reliance on traditional currencies. With the rise of cryptocurrency adoption, Russia is taking a significant step towards embracing digital payments and navigating economic sanctions. Key terms: bitcoin, digital currencies, foreign trade.
