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BRICS is focusing on investment partnerships over currency unification, Russian officials indicated, as discussions around reducing reliance on the U.S. dollar continue amid global economic shifts. Russia Puts BRICS Currency Speculation to Rest—Here’s the Bloc’s Real Financial Agenda Russian spokesman Dmitry Peskov stated on Jan. 31 that BRICS is currently not considering a shared currency, … Read more
Hungary is threatening to block EU sanctions against Russia, citing €19 billion in losses and accusing Brussels of failing to uphold energy security commitments, Prime Minister Viktor Orban warned. EU’s Russia Sanctions at Risk—Hungary Says Economic Damage Is Too High Hungary is prepared to block any further extension of European Union sanctions against Russia if … Read more
About 3 million citizens have registered their personal data on the Russian Unified Biometric System. Authorities state that the population is warming to the use of these technologies, as 80% of registrations occurred last year. Russian Unified Biometric System Gets Closer to 3 Million Users Registered The Russian state biometric data cache is getting larger. … Read more
Rosseti, Russia’s electric grid operator, is exploring crypto mining to utilize electricity from power plants with low consumption. This could involve building mining centers and potentially coordinating their placement nationwide. Boosting Rosseti’s Revenues The Russian electric grid operator, Rosseti, is reportedly interested in establishing crypto mining centers powered by power plants with low utilization rates. … Read more
The Russian State Duma is considering using the digital ruble to maintain transparency in public spending and to sidestep sanctions. Deputy Chairman of the State Duma Committee on Economic Policy Artem Kiryanov highlighted the importance of these use cases for Russia’s future. Russian State Duma Acknowledges Digital Ruble Could Be Used to Avoid Sanctions The … Read more
Russia and Indonesia are moving toward ruble-rupiah trade settlements as sanctions and Russia’s SWIFT exclusion drive efforts to establish sustainable, dollar-free financial systems. Indonesia-Russia Trade Sees Shift to Ruble and Rupiah Settlements The global trend of reducing dependence on the U.S. dollar in international trade is gaining momentum, with nations increasingly exploring alternatives. Indonesia and … Read more
Russia will have a unified facial payment system by the second half of 2025, aiming to onboard millions as non-card payment systems gain preference. Sber and NSPK, which operates the Mir card payment system, will join forces to establish standards and achieve interoperability. Sber and NPSK Join Forces to Launch Facial Payment System in Russia … Read more
Russia and Iran are forging a confidential financial system to replace SWIFT, signaling a bold move to bypass Western dominance and reshape global economic power dynamics. Russia and Iran Deepen Ties in Push to Abandon SWIFT Completely Russia and Iran are collaborating to establish a secure financial messaging system as an alternative to the SWIFT … Read more
A Russian national was sentenced to seven years in prison for high treason involving cryptocurrency. The individual repeatedly transferred funds to a unit of the Ukrainian Armed Forces using crypto. Russian National Sentenced to 7 Years in Jail for Using Crypto to Fund Ukrainian Forces One of the first cases involving crypto funding and treason … Read more
Efforts to trade using national currencies are intensifying, as nations aim to reduce reliance on the U.S. dollar and Western financial systems while boosting economic independence. Russia’s Plans for National Currency Payment Systems Signal Declining Dollar Use Countries worldwide are increasingly opting for national currencies in trade agreements, reducing reliance on the U.S. dollar and … Read more