Russia’s Ministry of Finance is investigating stablecoins to avoid paying in dollars or euros for international payments.
According to the local news source TASS, Russian Deputy Finance Minister Aleksey Moiseyev made a statement on the subject. in talks with many countries announced that they were. Speaking at a conference in Vladivostok, Moiseyev said:
“We are working with many countries to create new two-pronged platforms where the dollar or the euro is not used. The value of stablecoins can be based on an asset, such as gold, whose value (the platform) is accepted by all parties involved.”
Many countries, including the USA and EU countries, have taken many sanctions against Russia after they declared war against Ukraine. The European Union removed 7 Russian banks from SWIFT at the beginning of March.