According to President Putin, the U.S. government has used the U.S Dollar to wage war, diminishing its role as the reserve currency. Therefore, he is in favour of Bitcoin now, arguing that no one can regulate the cryptocurrency. Since Bitcoin is not controlled by any single state, it is the perfect means to avoid sanctions.

The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.

Russian companies started conducting international transactions using bitcoin and other digital currencies, following legislative changes allowing such payments.

Russia has begun using Bitcoin and other digital currencies for international trade. This move follows legislative changes aimed at countering Western sanctions. The shift aligns with US President Joe

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Ukraine has announced "sanctions and other solutions" to block Russia's unwanted cryptocurrency payments. Source: Vladyslav Vlasiuk, Advisor to the president of Ukraine and Commissioner for Sanctions Policy Details: Vlasiuk recalled that Russian companies started using Bitcoin and other digital currencies for international payments after changes in legislation allowed such transactions in order to counter Western sanctions.

In a recent interview with the state-owned news channel Russia-24 on December 25, Russian Finance Minister Anton Siluanov provided insights into Russia’s active experimentation with digital financial assets (DFAs) for international trade.

Bitcoin and BRICS are considered to be helpful for reducing Russian dependence on the US dollar. Russia began international dealings through Bitcoin. Russia trusts digital currencies to make inter-nation trade easier in ways that can protect it from US sanctions and give greater control over global trade with and over the US dollar.

Russia has allowed the use of Bitcoin and other digital currencies in international payments to counteract Western sanctions. Source: Reuters, citing Russian Finance Minister Anton Siluanov, as reported by Mezha Media,