Russian Ministry of Finance thinks the digital ruble can reduce the economy’s dependence on the U.S. dollar


Russian Ministry of Finance thinks the digital ruble can reduce the economy's dependence on the U.S. dollar.png

Digital Ruble is currently a hot topic in Russia and it seems that the central bank, together with the Ministry of Finance, is in favor of it.

According to the finance department, the possible benefits of using the digital ruble are as follows:

reducing transaction costs as well as the burden on banks and payment systems;
expanding opportunities for cross-border payments;
reduced dependence on the dollar and, as a result, reduced exposure to sanctions from the third countries.
The Ministry sees the risks and disadvantages in particular:

lack of security;
high volatility;
use for illegal purposes.

Source: https://ccnews24.net/russian-ministry-of-finance-thinks-the-digital-ruble-can-reduce-the-economys-dependence-on-the-u-s-dollar/


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