Russia imposes a major countermeasure: including Bitcoin in the international payment system.

Russian Finance Minister Anton Siluanov said on Wednesday that Russia has amended its laws to allow businesses to use Bitcoin and other digital currencies in international payments in response to Western sanctions. Sanctions have made trade with major partners such as Turkey more complicated for Russia, as local banks are extremely cautious about transactions involving Russia to avoid scrutiny from Western regulatory bodies. This year, Russia allowed the use of cryptocurrencies in foreign trade and has taken steps to legalize the mining of Bitcoin and other cryptocurrencies. Russia is one of the leaders in the global Bitcoin mining sector. Siluanov said, "As part of the experimental regime, we can use Bitcoin mined in Russia in (foreign trade transactions)." "Such transactions are already taking place. We believe they should be further expanded and developed. I believe this will be achieved next year," he added, stating that international payments with digital currencies represent the future. Earlier this month, Russian President Putin said that the current US government is using the US dollar for political purposes, undermining the dollar's status as a reserve currency and forcing many countries to turn to alternative assets. He pointed out that Bitcoin is an example of such an asset and stated that no one in the world can regulate Bitcoin. Putin's remarks indicate that this Russian leader supports the widespread use of cryptocurrencies.