In response to Western sanctions against Russia, which were caused by the invasion of Ukraine in full scale earlier this year, it is believed that the Russian Federation might accept cryptocurrency for international payments.

Moscow-based Interfax news Agency and Reuters reported Friday that Ivan Chebeskov, who heads the Financial Policy Division within Russia’s Finance Ministry, is actively considering the possibility of incorporating crypto payments. “The idea of using digital currencies in transactions for international settlements is being actively discussed,” he said.