Russian businesses are increasingly using bitcoin and other cryptocurrencies for international payments due to new laws that help them bypass Western sanctions. This trend follows sanctions imposed after Russia’s invasion of Ukraine, which made trading with countries like China and Turkey more challenging. Russian Finance Minister Anton Siluanov mentioned that these crypto transactions are already ...
Russian businesses have started using bitcoin and other cryptocurrencies for international payments, a shift made possible by recent legal changes that help them bypass western sanctions. Following the sanctions imposed after Russia’s invasion of Ukraine in 2022, trading with countries like China and Turkey became challenging. Russian Finance Minister Anton Siluanov announced that the country ...
Russian companies are turning to Bitcoin and other cryptocurrencies for international payments due to Western sanctions. With Chinese banks significantly reducing their transaction support for Russia over concerns about access to U.S. financial markets, the use of digital currencies has become increasingly important. Russian Finance Minister Anton Siluanov confirmed that domestically mined Bitcoin is being ...
Russian companies are increasingly turning to Bitcoin and other digital currencies for international payments due to Western sanctions. Chinese banks, once key players in Russian trade, have drastically reduced transaction support, fearing repercussions in U.S. financial markets. Reports indicate that by mid-2024, up to 80% of Russian payments in yuan were either rejected or returned. ...
