Russia Explores Using National Digital Currencies in Trade with China
Anatoly Aksakov, head of the State Duma’s Financial Market Committee. Discussed the potential use of national digital currencies for trade settlements between Russia and China.
He indicated that once the necessary regulatory and technological frameworks are in place. Digital currencies like the ruble and yuan could facilitate bilateral payments. This approach aims to streamline cross-border transactions, which are currently hindered by Western sanctions. As Chinese banks limit payments for dual-use products. Alternative solutions like barter systems are also being considered to support Russian importers.
Clever Robot News Desk 7th September 2024
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