Russia to create stablecoin to circumvent sanctions with cryptocurrency

According to web. rf, a corporation that develops the economy (which is practically non-existent in Russia), in order to avoid sanctions and pull the country out of the financial doldrums, Russia needs to launch its own stable digital currency.

According to the study, in order to save the Russian economy, it is necessary to completely rebuild the financial infrastructure that will be suitable for settlements in foreign markets. Thus, analysts said that a digital ruble pegged to the dollar would ensure its unimpeded use in foreign and domestic markets.

However, the likelihood that Russia’s own stablecoin will help improve the situation is negligible, as most European and American countries refuse to have any relations with the terrorist state, including trade. In early June, Europe announced that a new package of sanctions would include a cyber ban on cryptocurrencies, and the largest NFT platform OpenSea has already begun blocking Russians.