Grounds for cryptocurrency introduction into foreign trade settlements of the Russian Federation

Subject. This article discusses the issues of using different digital currencies and developing foreign economic relations under the conditions of sanctions pressure. Objectives. The article aims to assess the advantages and disadvantages of using cryptocurrencies in terms of optimizing foreign trade settlements. Methods. For the study, I used the general scientific research methods, as well as SWOT analysis and PEST analysis. Results. The article finds that considering limited access to traditional payment systems, cryptocurrencies can be used to maintain foreign economic relations, ensuring independence and acceleration of settlements, while minimizing the risks of transaction locking. However, the successful implementation of cryptocurrencies requires addressing a number of important issues related to legal and regulatory uncertainty, volatility of digital assets, and strengthening cybersecurity. Conclusions. Russia has certain opportunities to develop its own tools for conducting settlements in cryptocurrency. It is necessary to enhance cooperation with countries interested in alternative forms of financial interaction.

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Publication Details

Journal
Regional Economics Theory and Practice
Published
2025-08-28
DOI
https://doi.org/10.24891/padbja
Primary Topic
Economic and Technological Developments in Russia
Type
article
Field-Weighted Citation Impact
0.00
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article

Grounds for cryptocurrency introduction into foreign trade settlements of the Russian Federation

Daniil R. ZHESTKOV
Regional Economics Theory and Practice
Economic and Technological Developments in Russia
article

Grounds for cryptocurrency introduction into foreign trade settlements of the Russian Federation

Daniil R. ZHESTKOV
article en

Abstract

Subject. This article discusses the issues of using different digital currencies and developing foreign economic relations under the conditions of sanctions pressure. Objectives. The article aims to assess the advantages and disadvantages of using cryptocurrencies in terms of optimizing foreign trade settlements. Methods. For the study, I used the general scientific research methods, as well as SWOT analysis and PEST analysis. Results. The article finds that considering limited access to traditional payment systems, cryptocurrencies can be used to maintain foreign economic relations, ensuring independence and acceleration of settlements, while minimizing the risks of transaction locking. However, the successful implementation of cryptocurrencies requires addressing a number of important issues related to legal and regulatory uncertainty, volatility of digital assets, and strengthening cybersecurity. Conclusions. Russia has certain opportunities to develop its own tools for conducting settlements in cryptocurrency. It is necessary to enhance cooperation with countries interested in alternative forms of financial interaction.

Regional Economics Theory and PracticeVol. 23(8)
Diplomatic Academy of the Russian Foreign Ministry (RU)
Openalex Percentile: Top 53%
Economic and Technological Developments in Russia
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Grounds for cryptocurrency introduction into foreign trade settlements of the Russian Federation — Daniil R. ZHESTKOV · Regional Economics Theory and Practice (2025) | TGRS Research Map | TGRS