Russia Considers Cryptocurrency for International Transactions

Having ruled out acceptance of cryptocurrency for domestic transactions, various economists close to government in Russia are now pushing it as an alternative to the dollar and the euro for international transactions in the face of financial sanctions from the West. The Ministry of Finance favours the suggestion, as do criminals worldwide; the Central Bank, on the other hand, is strongly opposed under Elvira Nabiullina, a Thatcher-like figure not only in staunch defence of her own stable but also in an old fashioned belief in holding back inflation to preserve the value of the rouble. Since cryptocurrency has lately shown itself to be no substitute for gold as an inflationary hedge, she does have a point.

Vedomosti, 4 March 2022:

В России предложили разрешить расплачиваться с программистами криптовалютой

Сейчас такие расчеты запрещает закон о цифровых финактивах

Марина Тюняева (Бочкарёва)Наталья Заруцкая