Russia employs Bitcoin in its foreign trade activities.

Russian companies have begun to utilize Bitcoin and other digital currencies for international payments. This shift occurred following legislative changes that permitted such usage in order to counteract Western sanctions.

This was announced by Russia's Finance Minister Anton Siluanov, as reported by RBK-Ukraine citing Reuters.

The agency notes that sanctions have complicated Russia's relationships with key partners such as China and Turkey. Local banks are exercising caution regarding transactions involving Russia to avoid scrutiny from Western regulatory bodies.

At the same time, this year Russia has authorized the use of cryptocurrencies in foreign trade and has taken steps to legalize cryptocurrency mining, including Bitcoin. The aggressor nation is now one of the world leaders in Bitcoin mining.

"Under the experimental regime, it is possible to use (in foreign trade operations - ed.) Bitcoins that we mined here in Russia. Such transactions are already taking place. We believe that they should be expanded and further developed. I am confident that this will happen next year," said Siluanov.

He also added that international payments in digital currencies represent the future.

The publication also reminded that this month, Russian dictator Vladimir Putin stated that the current U.S. administration is undermining the role of the American dollar as a reserve currency. In particular, it is being used for political purposes, forcing many countries to turn to alternative assets.

As an example, Putin highlighted Bitcoin, asserting that no one in the world can regulate this cryptocurrency.

"Putin's statements indicated that the Russian leader supports the widespread use of cryptocurrencies," summarized Reuters.

Recall that on the night of December 5, 2024, Bitcoin reached an all-time high. The price of one coin exceeded $100,000 on that day.