Russia wants to use its digitalruble for settlements with China.
Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war.The Central Bank of Russia is gearing up to launch settlements with the digital ruble, the new incarnation of the Russian fiat currency that’s now being tested, as early as 2023.
The high-ranking lawmaker elaborated that the digital direction is key because financial flows can circumvent systems controlled by unfriendly nations. He added the next step for the central bank digital currency issued by the Bank of Russia would be to introduce it in mutual settlements with China. Also quoted by Reuters, Aksakov emphasized:
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