Daniil R. ZHESTKOVDiplomatic Academy of Ministry of Foreign Affairs of Russian Federation, Moscow, Russian Federation norwdaniel@gmail.com ORCID id: not available
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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