Russia: The digital ruble will be nationally launched in July and may become a potential tool to cope with sanctions.

According to a report from TechFlow, on January 27, Russian State Duma Vice Chairman Artem Kiryanov stated that the digital ruble will serve as a potential tool to counter sanctions. He emphasized that the digital ruble has a dual role in enhancing transparency in public spending and facilitating international transactions.

Kiryanov noted that the digital ruble will ensure 100% transparency in national and municipal procurement, strengthen financial discipline, and reduce the misuse of funds. Additionally, the digital ruble is expected to help entrepreneurs facing Western sanctions achieve smoother cross-border transactions.

According to Russian President Vladimir Putin, the digital ruble is planned to be launched nationwide this July.