Российский экспортный центр приготовился к тестам расчетов в криптовалюте

Russian EXPORT Center Prepares for Cryptocurrency Settlement TestsThe Russian Export Center is considering the possibility of making payments in cryptocurrencies. This was announced at SPIEF by its HEAD Veronika Nikishina.

The Russian Export Center (REC) is actively working to establish alternative payment mechanisms, Veronika Nikishina, head of this development institute, said at the St. Petersburg International Economic Forum (SPIEF), RBC correspondent reports. In particular, settlements in cryptocurrency are being considered, she said.

“We, as a development institution that captures all trends (except for the traditional events that we continue to engage in), are now very seriously looking at piloting calculations in cryptocurrency. We are now ready to become such a cross-border digital sandbox and have already united both fintech companies and regulators around us,” Nikishina said.

According to her, the REC is in close cooperation with Rosfinmonitoring and the Central Bank, without which "it is impossible to seriously create all layers of payments in cryptocurrencies."

“The REC is now building a kind of sandbox to identify all possible risks in terms of regulation and technology that will allow such payments to be made quickly,” Nikishina noted.

The export center that fell under sanctions assured the continuation of work Business

In addition, she said that payment mechanisms in national currencies are being actively built at the moment, since they do not create the risk of falling under secondary sanctions.

“Even the banks included in the sanctions lists, in fact, from the point of view of a serious legal analysis of the sanctions ... settlements in national currencies through these banks do not affect and do not create the risk of falling under secondary sanctions. Therefore, this is also one of the mechanisms,” said Nikishina.

Read on RBC Pro Pro Why do we lose psychological stability and how to regain it InstructionsPro Glasses, lenses, surgery: which vision correction method to choose Articles Pro The smell of reality:how startups are trying to "flavor" the metaversePro How retailers can keep their assortment familiar to Russians Instructions Pro We guarantee against loss of money:What Mistakes Can Cost Importers Costly?why a billionaire eats once a day Articles Pro Tomorrow may no longer work: 3 steps to meaningful import substitution3 steps to meaningful software import substitution Instructions

After RUSSIA recognized the independence of the Donetsk and Luhansk People's Republics and agreed with them on partnership, including military, the United States announced the imposition of sanctions against Russian financial institutions, including the state corporation VEB.RF (REC is part of its group). On February 22, REC was included in the US Treasury Department's SDN sanctions list, which provides for the blocking of assets and isolation from the DOLLAR system.

Deputies and representatives of large businesses have previously asked to allow settlements in cryptocurrencies for foreign trade operations at the site of the Russian Union of Industrialists and Entrepreneurs (RSPP). At the end of April, the Federal Tax Service proposed to allow Russian companies to pay for export-import transactions in cryptocurrency.

Moody's assessed the possibilities of cryptocurrencies for Russia in the face of sanctions

But Western experts were skeptical about the possibility of using cryptocurrencies by Russia to minimize the consequences of the sanctions. Thus, the Moody's rating agency noted in early May that the liquidity of the Russian cryptocurrency market is low, legal crypto exchanges are also implementing protocols to comply with international anti-money laundering and sanctions standards, and the US authorities have already begun to impose sanctions against certain crypto platforms operating for the Russian-speaking audience. “We believe that the current volume of the global crypto market (Bitcoin, Ethereum. - ) is insufficient to provide a channel for a broad escape from the impact of sanctions. <...> As for the so-called stablecoins, such as Tether, usd Coin and Binance USD, these markets do not provide the necessary level of liquidity,” economists at the Institute of International Finance (IIF) wrote on June 8.

The REC was established in 2015 as a state institution to support non-commodity exports. The REC group includes the Russian Export Center JSC, the EXIAR export credit insurance agency and Eximbank of Russia, which operate under a single brand and provide a “single window” for Russian companies applying for export support. The Center provides exporters with financial support measures (crediting, insurance, bank guarantees), as well as non-financial support, interacts with the relevant authorities, prepares proposals for improving the conduct of export activities, interacts with business and experts and helps to overcome barriers and remove "systemic" restrictions, indicated on the website of the center. In addition, the REC coordinates the activities of Russian trade missions abroad related to the support of export projects.