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Opportunities to Use Digital Mediums of Exchange in Russia’s Trade with Friendly Countries

Author

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  • Yulia Borisovna KRAVCHENKO

    (Russian Foreign Trade Academy, Moscow, Russia)

Abstract

The article assesses the opportunities to use cryptocurrencies, digital ruble and digital financial assets in Russia’s trade with friendly countries. The risks associated with settlements in cryptocurrencies are outlined. Possible ways of ensuring the legalization and liquidity of cryptocurrency are suggested. The feasibility of using stablecoins in settlements with friendly countries is considered. The mechanism of settlements between Russian and foreign counterparts using the digital ruble is described. It is concluded that digital financial assets should be regarded as not entirely successful experiment in creating an alternative to digital currencies.

Suggested Citation

  • Yulia Borisovna KRAVCHENKO, 2023. "Opportunities to Use Digital Mediums of Exchange in Russia’s Trade with Friendly Countries," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 5, pages 53-62, May.
    • Handle: RePEc:alq:rufejo:rfej_2023_05_53-62
    DOI: 10.24412/2072-8042-2023-5-53-62
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