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 has begun using Bitcoin and other digital currencies for international trade. This move follows legislative changes aimed at countering Western sanctions. The shift aligns with US President Joe

"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia [in foreign trade transactions]," Finance Minister Anton Siluanov told the Russia-24 TV channel. "Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year."

Russia taps Bitcoin and cryptocurrencies for international trade, embracing digital assets to counter economic challenges posed by Western sanctions.

Russia has been using digital financial assets and Bitcoin in foreign trade in line with its experimental legal regime, Finance Minister Anton Siluanov said.

In a recent interview with the state-owned news channel Russia-24 on December 25, Russian Finance Minister Anton Siluanov provided insights into Russia’s active experimentation with digital financial assets (DFAs) for international trade.

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.