Sergey Katyrin, head of the Chamber of Commerce and Industry of the Russian Federation, proposed the use of digital currencies for payments and settlements with African countries. This was stated in a letter to Prime Minister Mikhail Mishustin, writes TASS.

Katyrin considers it appropriate to instruct the Ministry of Finance and the Central Bank to sign agreements with African countries “on the use of national currencies and cryptocurrencies in mutual settlements and payments.”

He also suggested that the Ministry of Finance, the Ministry of Industry and Trade and the Ministry of Economic Development work on “a system for the issue of counter-trade (barter) and accounting for foreign and domestic payments, including cryptocurrencies.”

The Chairman of the Chamber of Commerce and Industry believes that it is of great importance to develop cooperation with African countries in the context of the sanctions imposed on the Russian Federation by many states due to the Russian invasion of Ukraine.

Recall that some representatives of the Russian authorities believe that cryptocurrencies can help circumvent sanctions. However, numerous experts and representatives of the Central Bank of the Russian Federation say that this is practically impossible.