The Russian legislator emphasized the role of the digital ruble in helping companies bypass sanctions and simplify operations.

Russia Central bank digital currency - also known as the digital ruble - will simplify life for entrepreneurs, especially those affected by sanctions, according to Artem Kiryanov, deputy chairman of the Duma's State Economic Policy Committee.

in interview With the Russian news agency, Kiryanov explained that the digital ruble provides a huge advantage to entrepreneurs, especially those involved in foreign trade.

“The use of the digital ruble will primarily help entrepreneurs who deal with cross-border economic activities. It will ease operations amid sanctions.”

Artem Kiryanov

He emphasized that the digital ruble ensures complete transparency in government procurement processes, providing a much-needed solution to controlling financial flows.

“Everything that happens within the framework of state and municipal procurement should pass through the digital ruble. It will strengthen financial discipline and prevent fraud or unauthorized transfer of funds.”

Artem Kiryanov

Russia Its central bank digital currency has been piloted since August 2023, and is expected to be widely available for use by mid-2015. Central Bank Governor Elvira Nebiullina earlier certain If the pilot projects are successful, the digital robo will be rolled out to a “crowd application” by July. However, she notes that the transition will likely take several years to complete.

In a consultation paper from October 2020, the central bank Reassured citizens that the proposed CBDC will supplement, not replace, the existing cash and non-cash rubles in circulation. In contrast, China, a key benchmark for Russia's digitalization efforts, He started He paid civil servants in Changshu State salaries using his CBDC, the digital yuan, to encourage the adoption of the state-controlled currency.