Russian PM takes cue from Iran’s crypto payment permit for imports

Commentthe Russian prime minister said that Russia could soon follow the lead of Iran and use cryptocurrencies to import goods.

At a strategic session about the development of the domestic finance system, Mikhail Mishustin, Russian Prime Minister, stated that digital assets are necessary to provide a “safe option” for cross-border payments.

Prime Minister Mishustin stated that digital assets offer a great opportunity to ensure uninterrupted payments for both imports and exports. Mishustin stated that it was important to ensure the independence of tech infrastructure and cybersecurity of financial institutions.

“We must intensify our innovation areas, including the adoption digital assets. This is a secure alternative that all parties can use to ensure uninterrupted payment for goods imported from abroad or exported.

Mishustin made these remarks shortly after Iran’s Industry of Mines and Trade Ministry had approved the use of cryptocurrency for imports. Local media reported Monday that Mishustin’s remarks were made after Iran’s Industry of Mines and Trade Ministry approved the use of cryptocurrencies for imports. This was in response to ongoing international trade sanctions against Iran.

Russian authorities had previously considered crypto for international payment. Ivan Chebeskov (head of Russia’s Financial Policy Division in the Ministry of Finance) stated that they were considering the possibility to incorporate crypto payments. He stated that the idea of using digital currency in international settlements transactions is being discussed.

Similar: 72% of Russians claim they have never purchased Bitcoin: Survey

Even Russia’s most ardent crypto skeptic, Bank of Russia, supported the idea of international crypto payments. Elvira Nabiullina, Bank of Russia Governor, stated in June that cryptocurrency can be used for cross-border and international payments. However, they must not get into Russia’s financial system.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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