Russia Mulls Cryptocurrency For International Trade: Report

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Russia’s Ministry of Finance is considering allowing the use of cryptocurrencies for international trade, local news outlet Interfax reported on Friday.

“The issue of using such digital currencies as barter transactions for international settlements is being actively discussed,” said Ivan Chebeskov, director of the financial policy department of the Ministry of Finance, per the report.

Russian officials have teased at this possibility a couple of times this year.

In March, the chairman of the country’s Congressional energy committee, Pavel Zavalny, said in a press conference that Russia was open to accepting bitcoin for its natural resources exports. Zavalny explained that only “friendly” countries like China and Turkey would be given the option, as President Vladimir Putin had said the day before that “unfriendly” countries should pay for Russian gas in rubles.

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