The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.

From blockchain advancements to digital currencies, financial tools that once seemed niche are now stepping onto the main stage of international trade. For Russia, this shift has taken on new urgency.

Russian companies have started using Bitcoin and other digital currencies for international payments. This shift follows legislative changes allowing such transactions to counter Western sanctions, reports Reuters,

Russia’s finance minister has revealed domestic companies are already using bitcoin and other digital currencies as a mechanism for international payments. The admission comes after the country issued legislative changes allowing the use of crypto to get around sanctions,