Russia prepares to use the digital ruble

Elvira Nabiullina, President of the Central Bank of Russia, stated that the digital ruble will be available to everyone after the trial period, saying: “We are ready to start the pilot use of the digital ruble. After the pilot implementation, we will be able to offer the digital ruble to everyone.”

Nabiullina, in a meeting with some Russian deputies in the capital, Moscow, pointed out that Russia continues to work to recover its reserves frozen by Western countries.

Recalling that with the decree signed by Russian President Vladimir Putin, non-friendly countries were prohibited from withdrawing money from Russia, Nabiullina said: “This was a retaliatory measure and constitutes a negotiating position on this issue (returning reserves to Russia).

“WE ARE READY TO START USING PILOT IN RUBLO DIGITAL”

Noting that Russia has started to rebuild its reserves using unsanctioned assets, Nabiullina said: “Now we feel quite calm. Because our country has a stock exchange of goods that are not subject to sanctions, ”she said.

Commenting on the developments related to the digital ruble, Nabiullina stated that they are ready to start the pilot use of the digital ruble.

Noting that several digital ruble transactions are already taking place, Nabiullina said: “We do real transactions with real money, but for now, we are doing it with small amounts and few clients. After the pilot implementation, we will be able to offer the digital ruble to everyone.” (AA)