Russia and Cuba allow mutual settlements in rubles and cryptocurrencies against the backdrop of sanctions.
Commissioner under the President of Russia for the Protection of the Rights of Entrepreneurs Boris Titov said that Russia and Cuba allow options for mutual settlements in rubles and cryptocurrencies.
Boris Titov, who arrived in Havana for the 38th FIHAV-2022 International Multi-Industry Fair, added that this is necessary to facilitate cooperation amid sanctions against both countries.
“All of us, Cuba and Russia, are under sanctions, the dollar turnover is the main financial mechanism that exists in the world for mutual settlements, but today mechanisms are being developed at the level of governments of countries to change the situation. I know that several options are being considered, including [calculations] in rubles. Businesses are often more mobile, so they can more easily find ways to comply with the law. The issue of cryptocurrencies in mutual settlements, and the possibility of paying through clearing schemes, private schemes is being considered, ”says Boris Titov.
The 38th FIHAV-2022 International Multi-Industry Exhibition-Fair is held from November 14 to 18. The event is attended by representatives of companies from more than 60 countries, including Brazil, Venezuela, Spain, Italy, Canada, China, Mexico, Russia and France.
