Russia's Central Bank Reports Businesses Using Bitcoin for Transactions Amid Sanctions; Energy Trades with China Confirmed

The Central Bank of Russia has announced that businesses are increasingly utilizing Bitcoin and other cryptocurrencies for transactions, a move seen as a response to U.S. sanctions. Central Bank Governor Elvira Nabiullina confirmed that companies are 'testing' the use of digital assets in foreign trade. Additionally, reports indicate that Russia and China are settling energy trades in Bitcoin, marking a significant step toward establishing a parallel financial system that operates outside of traditional frameworks like SWIFT and the U.S. dollar.

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