29 Sep 2023 12:00

Russian govt, CBR draw up plan for system of cross-border settlements in digital financial assets - Mishustin

MOSCOW. Sept 29 (Interfax) - The Russian authorities have drawn up a roadmap for the introduction of a system for international settlements using digital financial assets (DFA).

"We are now working on the launch of cross-border settlements based on blockchain technology using digital financial assets and corresponding utility digital rights," Prime Minister Mikhail Mishustin said at the plenary session of the Moscow Financial Forum.

"The government, in coordination with the Bank of Russia, has prepared such a step-by-step plan to create such a system, within the context of which legal and technical aspects will be analyzed," Mishustin said, adding that hopefully this will provide "new possibilities for attracting foreign investment."

Improving the "transport and payment components" of foreign economic cooperation with partners from friendly countries is one of the government's priorities, Mishustin said.

Another priority is broader use of rubles in settlements. "We are expanding the network of direct correspondent accounts between the banks of Russia and friendly countries specifically in national currencies. And the list of currencies of friendly countries that are now traded on the Moscow Exchange is growing," Mishustin said.