Speaking to Russia 24 TV channel, Siluanov said that Russia has started using Bitcoin in international trade transactions as part of an experimental regime.

“We can use the Bitcoins we mined in Russia in international trade transactions. These transactions are already taking place and we believe that they will be expanded and developed further. I believe that this will happen next year,” he said, adding that international payments using digital currencies will be a trend in the future.

This is a Russian strategy to cope with Western sanctions, which have caused great difficulties for Russian trade activities, especially in dealing with partners such as China and Türkiye.

Western sanctions have created major obstacles for Russia to transact with major partners, as local banks are cautious about handling transactions involving Russia, fearing scrutiny and sanctions from Western regulators.

In this context, Russia has decided to legalize the use of cryptocurrencies in international trade transactions and take measures to legalize the mining of cryptocurrencies, including Bitcoin.

Russia is currently considered one of the leading countries in Bitcoin mining, with companies and individuals actively involved in the industry.

Ngoc Anh (according to TASS, Reuters)