Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa – Bitcoin News - BitcoinEthereumNews.com
Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia‘s ability to trade internationally, the head of the board has urged the government to work out an alternative system for settlements with Moscow’s partners. Chamber of Commerce Proposes Improving Russias Trade With African Nations In a letter sent to Russian Prime Minister Mikhail Mishustin, President of the Chamber of Commerce and Industry of Russia Sergey Katyrin has laid out a set of proposals to boost economic relations with African nations. Among other ideas, the head of the Russian व्यापार मंडल advocates for alternative payment options. Quoted by Tass, Katyrin insists: It seems appropriate to instruct the Ministry of Finance, together with the central bank, to ensure the conclusion of intergovernmental agreements with African states on the use of national currencies and cryptocurrencies in mutual settlements and payments. The official is calling on the federal government to create a new export-import bank and a trust fund tasked to back export activities of small and medium-sized firms to Africa. He also wants the Ministry of Industry and Trade and the Ministry of Economic Development to