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.

Russian companies are using bitcoin to evade Western sanctions, thanks to a new law, the country's Finance Minister Anton Siluanov confirmed in a television interview. Why it matters: Russia's economy has been hampered by difficulties in making and receiving international payments,

Russia’s Finance Minister Anton Siluanov has announced that Russian companies have started using Bitcoin and other cryptos for international trade.

Russia is increasingly adopting cryptocurrencies for international payments to counter Western sanctions and reduce dependence on the US dollar. Recen

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.

Bitcoin and BRICS are considered to be helpful for reducing Russian dependence on the US dollar. Russia began international dealings through Bitcoin. Russia trusts digital currencies to make inter-nation trade easier in ways that can protect it from US sanctions and give greater control over global trade with and over the US dollar.

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,

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.

Russia has authorized Bitcoin for international payments, aiming to counter Western sanctions and enhance foreign trade transactions.