The Bank of Russia and the government of Russia have agreed to allow domestic companies to use cryptocurrencies in transactions with foreign counterparties.
According to Ivan Chebeskov, Deputy Finance Minister, enterprises have already used such tools. The first mutual settlements with foreign partners were carried out as part of the Cabinet’s policy of circumventing Western sanctions.
Chebeskov has stressed that in the normal mode, the mechanism for the use of digital currencies in foreign markets will start working in 2023.
Business welcomed the decision of the Central Bank and the government. As noted by Vladimir Gamza from the Chamber of Commerce and Industry of Russia, local enterprises have received a good alternative to the dollar and the euro, which have become extremely difficult to use.
