Russia has begun paying China to transfer trade with China to cryptocurrency. This possibility is currently being tested by companies that purchase dual-use goods. Russian media reports UNN.
Details
According to sources familiar with the matter, the first group of importers allowed to pay for Chinese goods in digital currencies under the experimental legal regime (EPR) included electronics manufacturers, some members of the Russian Chamber of Commerce and Industry, and several banks.
Priority was given to companies that purchase goods that can be used not only for peaceful but also for military purposes. It was these importers who had the most difficulty making payments to banks in China and other countries.
It is also noted that in the Russian government selected companies with the largest turnover. However, a little later, Moscow hopes to attract even more participants in the framework of the EPR.
Addendum
The publication noted that the amendments on cryptocurrency payments for foreign trade contracts under the EPS were signed by the head of the Russian Federation in early August, and came into force on September 1.
The amendments also make it possible to conduct exchange trading in cryptocurrencies under the supervision of the Central Bank of Russia. The Central Bank and the Ministry of Finance are responsible for forming the circle of persons involved in the work of the EPR.
Russian media explain that currently the Central Bank has organized "face control to the elite EPR club," so representatives of medium-sized businesses cannot join it.