In response to Western sanctions on the Russian Federation, which were caused by their invasion of Ukraine in full scale earlier this year, it is believed that they are considering accepting 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.