Russian PM Takes Inspiration From Iran's Crypto Payment Permit For Imports

The adoption of digital assets offers a good opportunity to ensure uninterrupted payments for imports and exports, says the Russian Prime Minister .

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Russia may soon follow Iran's lead in using cryptocurrencies for imports, according to Russian Prime Minister's comment.

The adoption of digital assets is necessary as a “safe alternative” for cross-border payments, Russian Prime Minister Mikhail Mishustin said on Tuesday during a strategic session on the development of the national financial system.

The Prime Minister added that digital assets provide a good opportunity to ensure uninterrupted payments for imports and exports. Mishustin also highlighted the importance of ensuring the independence of the technological infrastructure and the cybersecurity of financial institutions, stating:

“We need to intensively develop innovative areas, including the adoption of digital assets. This is a safe alternative for all parties that can guarantee uninterrupted payment for the supply of goods from abroad. 'abroad and for export.'

Mishustin's remarks came shortly after Iran's Ministry of Mining Industry and Commerce approved the use of cryptocurrencies for imports. Local media reported on Monday that the authority has moved into crypto payments due to ongoing international trade sanctions against Iran.

Russian authorities have already considered crypto for international payments. In May, Ivan Chebeskov, head of the financial policy division at the Russian Ministry of Finance, said that the authority was considering the possibility of integrating crypto payments. "The idea of ​​using digital currencies in transactions for international settlements is being actively discussed," he said at the time.