Russian lawmakers have passed a bill allowing cryptocurrencies to be used in international trade, aiming to mitigate the economic impact of Western sanctions imposed following the invasion of Ukraine. The new legislation, set to take effect in September, will regulate cryptocurrencies similarly to foreign currencies and establish an experimental infrastructure for crypto payments, with the first transactions expected by the year's end. Central bank Governor Elvira Nabiullina and other officials highlight that this move is crucial for overcoming delays and difficulties in international payments with key partners such as China, India, and the UAE. Despite the new law, the ban on cryptocurrency payments within Russia remains. The initiative aligns with Russia’s broader strategy to navigate sanctions and maintain economic stability, also including the launch of a digital ruble by 2025.