Russia Adopts Bitcoin for International Trade to Counter Sanctions

New laws enable Russian companies to use cryptocurrency for cross-border payments as Western sanctions restrict traditional financial channels.

Russia's finance minister, Anton Siluanov, confirmed that businesses are using bitcoin and other cryptocurrencies for international transactions under a new legal framework.
Legislative changes this year legalized cryptocurrency mining and its use for foreign trade, marking a significant policy shift from Russia's earlier resistance to crypto.
Sanctions have limited Russia's access to global financial systems, prompting a pivot to alternative payment methods, including bitcoin mined domestically.
President Vladimir Putin criticized the U.S. dollar's dominance and highlighted bitcoin as a viable alternative for sanctioned nations, citing its decentralized nature as a key advantage.
The move aligns with Russia's broader strategy to reduce reliance on traditional reserve currencies and expand the role of digital assets in global trade.