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Russia Launches Payment System with No Restrictions on Digital Currencies in Cross-Border Payments

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Russia's Finance Minister, Anton Siluanov, has announced the launch of a new payment system that will allow the use of digital currencies in international payments with no restrictions. Siluanov stated that the system would be based on modern technologies, including digital financial assets and currencies like the digital ruble and digital yuan. He emphasized that the system would be free from any country's restrictions, and no other nation could freeze payments.

In addition, Siluanov revealed that the Russian ruble and Chinese yuan are already replacing the US dollar in mutual settlements between Russia and China, with more than 70% of trade between the two countries being conducted in their national currencies. He also suggested that the ruble and yuan could replace the US dollar as the primary currency for international settlements.

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