Russian Ministers Join Board of Payments Firm A7
Three senior Russian officials have joined the board of payments firm A7 to support cross-border trade amid Western sanctions. The company utilizes a rouble-backed stablecoin to facilitate transactions with key partners like China.
Three senior officials in Russia joined the board of payments firm A7 on Thursday, boosting efforts to sustain trade with China under Western sanctions. The appointments formalize state backing for alternative financial channels bypassing traditional banking networks. Alternative channels now handle up to 80% of foreign trade payments for Russian companies.
