The Finance Minister of Russia reportedly says that many firms in the country are now using Bitcoin (BTC) to engage in foreign trade and skirt Western sanctions.

"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia [in foreign trade transactions]," Finance Minister Anton Siluanov told the Russia-24 TV channel. "Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year."

Russia’s Finance Minister Anton Siluanov has revealed that the country uses Bitcoin for international trade. Bitcoin transactions can reduce Russian firms’ reliance on dollars and