Ukraine has announced "sanctions and other solutions" to block Russia's unwanted cryptocurrency payments. Source: Vladyslav Vlasiuk, Advisor to the president of Ukraine and Commissioner for Sanctions Policy Details: Vlasiuk recalled that Russian companies started using Bitcoin and other digital currencies for international payments after changes

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Russian companies are using bitcoin to evade Western sanctions, thanks to a new law, the country's Finance Minister Anton Siluanov confirmed in a television interview. Why it matters: Russia's economy has been hampered by difficulties in making and receiving international payments,

Russia is increasingly adopting cryptocurrencies for international payments to counter Western sanctions and reduce dependence on the US dollar. Recent legislative changes have legalized the use of digital currencies in foreign trade.