Russia may soon be taking a cue from Iran by using cryptocurrencies for imports, according to the Russian prime minister.
The adoption of digital assets is necessary as a safe alternative for cross-border payments, Russian Prime Minister Mikhail Mishustin declared at a strategic session on the development of the domestic financial system.
The prime minister added that digital assets provide a good opportunity to ensure uninterrupted payments for imports and exports. Mishustin also pointed out the importance of ensuring tech infrastructure independence and the cybersecurity of financial institutions.
Mishustin’s remarks came shortly after Iran’s Industry of Mines and Trade Ministry approved the use of cryptocurrencies for imports. Russian authorities have previously considered crypto for international payments. Ivan Chebeskov, head of the Financial Policy Division within Russia’s Finance Ministry, said that the authority was considering the possibility of incorporating crypto payments. The idea of international payments in crypto even received support from Russia’s biggest governmental crypto skeptic, the Bank of Russia
