Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With

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Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa

Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board... See more for yourself here.

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In conditions when European countries and other developed countries prohibit or restrict trade with Russia due to an attack on Ukraine, there is nothing left for it but to impose its products on "friendly" African countries. But cryptocurrencies will do little to help in this case. If the goods are sanctioned, then their movement will be tracked, and this is not difficult to do, given their large volume. Then any states that will trade them with Russia themselves risk falling under sanctions. But in Russia, there seems to be no other way out.