Russia will permit the use of cryptocurrency in international trade.

According to reports, the Bank of Russia and the Ministry of Finance have decided to take steps toward authorizing the use of cryptocurrency payments in cross-border commerce.
The introduction of legislation allowing the use of cryptocurrencies in international trade is imminent in Russia.
According to reports, the Bank of Russia and the Ministry of Finance have concurred that cross-border cryptocurrency transactions are "difficult to do without" in the current environment.
Even so, the required regulatory framework will need to be implemented.
According to a local news outlet TASS report, the Bank of Russia and the country's Ministry of Finance have changed their minds about cryptocurrencies and now recognize the need to legalize their usage in cross-border transactions.
According to TASS, the two governments have decided that continuing without allowing cryptocurrencies to be used as a legitimate payment mechanism for international trade is "difficult."
The action is being taken as Russia experiments with the best way to control the Bitcoin and cryptocurrency markets. The largest nation in the world has looked for alternatives to the U.S. dollar to ensure the effective exchange of its commodities despite being under heavy Western sanctions.
In March, Pavel Navalny, the head of the nation's congressional energy committee, stated that the government was open to accepting bitcoin as payment for the export of natural gas and other resources.
Navalny stated, "We have been offering them to switch payments to national currencies, like rubles and yuan, when it comes to our 'friendly' countries, like China or Turkey, which don't force us. It might be both lira and rubles with Turkey. Therefore, it is common for there to be a range of currencies. We will trade in bitcoin if they request it.
According to a report, Russia was reported "actively debating" utilizing cryptocurrencies in foreign trade in May.
Now that such a plan is about to become a reality, the tide has turned. President Vladimir Putin last year rejected the idea in an interview at the Russian Energy Week conference in Moscow.
At the time, Putin said of bitcoin, "I think that it has value." But I don't think it can be applied to the oil industry.
TASS reports that efforts are still being made to establish the legal framework required for cross-border bitcoin transactions in Russia.