Russian Finance Minister Anton Siluanov said on Wednesday that Russian companies have begun using Bitcoin and other digital currencies in international payments, a result of legislative changes allowing such uses in response to Western sanctions.
This year, Russia allowed the use of cryptocurrencies in foreign trade and took steps to legalize the mining of cryptocurrencies, including Bitcoin. Russia is one of the global leaders in Bitcoin mining. "As part of an experimental system, Bitcoins mined in Russia can be used in foreign trade transactions," Siluanov told Russia 24 TV.
In a formal appeal to Siluanov, Russian MP Anton Tkachev suggested establishing a Bitcoin reserve similar to traditional foreign exchange reserves. He believes that cryptocurrencies have unique advantages in mitigating risks associated with sanctions, inflation, and currency fluctuations.

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