“As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia, in foreign trade transactions,” Russian Finance Minister Anton Siluanov said in an interview on the Russia 24 television channel.

Russia is now using Bitcoin and other cryptocurrencies for international trade, according to Finance Minister Anton Siluanov.

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Russia is expanding the use of Bitcoin in foreign trade to bypass sanctions, as confirmed by Finance Minister Anton Siluanov.

Can one be a staunch crypto backer and a supporter of U.S. dollar supremacy? That stance could become a dilemma for President-elect Donald Trump, who has touted both goals for his next administration.

Ukraine has announced "sanctions and other solutions" to block Russia's unwanted cryptocurrency payments. Source: Vladyslav Vlasiuk, Advisor to the president of Ukraine and Commissioner for Sanctions Policy Details: Vlasiuk recalled that Russian companies started using Bitcoin and other digital currencies for international payments after changes in legislation allowed such transactions in order to counter Western sanctions.

Russia is increasingly adopting cryptocurrencies for international payments to counter Western sanctions and reduce dependence on the US dollar. Recent legislative changes have legalized the use of digital currencies in foreign trade.