Russia's central bank, led by Governor Elvira Nabiullina, has advised businesses to consider cryptocurrencies and digital assets for transactions with foreign partners to mitigate the impact of Western sanctions.

The bank has softened its stance on crypto use in international payments, highlighting the flexibility and adaptability of new financial technologies.

Amid increasing sanctions, Russia has encountered difficulties in trade with countries like China, India, and Turkey, which have not imposed sanctions.

Efforts are also underway to establish alternative global payment systems, such as the BRICS Bridge, to reduce reliance on Western financial systems.

Despite the challenges, Nabiullina expressed optimism about the development of new, independent global payment systems.