Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Russia has allowed the use of Bitcoin and other digital currencies in international payments to counteract Western sanctions. Source: Reuters, citing Russian Finance Minister Anton Siluanov, as reported by Mezha Media,

Russian companies are increasingly using Bitcoin and other digital currencies for international payments in response to Western sanctions, Reuters reported on Dec. 25. Once key facilitators of Russia’s trade,

Russian companies have started using Bitcoin and other digital currencies for international payments. This shift follows legislative changes allowing such transactions to counter Western sanctions, reports Reuters,

The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.

Russia legalizes Bitcoin for international payments to counter sanctions, and expanding its use for trade.

Russian firms embrace Bitcoin for cross-border payments to bypass sanctions, amid new crypto laws and mining restrictions till 2031.

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Ukraine has announced "sanctions and other solutions" to block Russia's unwanted cryptocurrency payments. Source: Vladyslav Vlasiuk, Advisor to the president of Ukraine and Commissioner for Sanctions Policy Details: Vlasiuk recalled that Russian companies started using Bitcoin and other digital currencies for international payments after changes in legislation allowed such transactions in order to counter Western sanctions.

From blockchain advancements to digital currencies, financial tools that once seemed niche are now stepping onto the main stage of international trade. For Russia, this shift has taken on new urgency.