Elvira Nabiullina, Governor of the Bank of Russia, announced on July 30 that Russia plans to make the first international payment in cryptocurrencies by the end of 2024 at the latest. This step is backed by legal regulations to facilitate trade transactions, especially between BRICS countries.
Russia's move is seen as a step to mitigate the effects of Western economic sanctions and develop alternative payment methods. Nabiullina stated that these efforts are a strategy against sanctions.
