The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.

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.

In a recent interview with the state-owned news channel Russia-24 on December 25, Russian Finance Minister Anton Siluanov provided insights into Russia’s active experimentation with digital financial assets (DFAs) for international trade.

In recent statements, Russia’s finance minister has confirmed that the country is using Bitcoin and other digital currencies for trade payments as part of its efforts to avoid Western sanctions. This comes after Russia passed new legislation allowing the use of cryptocurrency in international trade,

Russia has allowed the use of Bitcoin and other digital currencies in international payments to counteract Western sanctions. Source: Reuters, citing Russian Finance Minister Anton Siluanov, as reported by Mezha Media,

Russian companies are increasingly using Bitcoin and other digital currencies for international payments in response to Western sanctions, Reuters reported on Dec. 25. Once key facilitators of Russia’s trade,