According to Jin10, Russian Finance Minister Anton Siluanov stated on Wednesday that Russian companies have begun using Bitcoin and other digital currencies in international payments, a result of legislative changes that allow such use to respond to Western sanctions.
This year, Russia has permitted the use of cryptocurrencies in foreign trade and has taken steps to legalize cryptocurrency mining (including Bitcoin). Russia is one of the global leaders in Bitcoin mining. Siluanov said in an interview with Russia 24 television: 'As part of an experimental regime, Bitcoin mined in Russia can be used in foreign trade transactions.'
Russian legislator Anton Tkachev suggested establishing a Bitcoin reserve similar to traditional foreign exchange reserves in a formal appeal to Anton Siluanov. He believes that cryptocurrencies have unique advantages in mitigating risks associated with sanctions, inflation, and currency fluctuations.