The finance minister of the aggressor country of russia, Anton Siluanov, confirmed in a television interview that russian companies are using Bitcoin to circumvent Western sanctions thanks to new legislation.
This is reported by the Axios portal.
The russian economy has faced difficulties in making international payments even with countries that do not use the US dollar as a reserve currency, including China.
Last month, the Kremlin created an experimental legal framework for cryptocurrency miners, which allows approved organizations to use cryptocurrency in international trade.
"This could also be an advantage for russian energy companies, which can now sell electricity to domestic Bitcoin miners," Anton Siluanov noted.
It is worth noting that the russian government's permission to make payments in Bitcoin does not mean that other countries will agree to accept them - both due to their own legislation and due to pressure from Western financial regulators on local banks.
As previously reported, the administration of current US President Joseph Biden is considering imposing major new financial sanctions on russian energy companies. This would give the team of future White House leader Donald Trump leverage that Washington may need during negotiations with Moscow over Ukraine.
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