US Deputy Finance Minister Wall Adaleo stated that cryptocurrencies, including a digital ruble, will not make sanctions less effective. Such an assessment of the policies gave in an interview with CNBC.
“We believe that even if a digital ruble or other cryptocurrencies appear, our sanctions will still be able to influence the economies of these countries simply because the world economy is still interconnected,” Adhereo told and stressed that Russian companies are still Do business worldwide and most of the transactions are committed in dollars. This makes the economy of the country dependent on the American currency. Also, the Deputy Minister reminded that the US economy remains the world’s largest.
“So far, so while we do the necessary investments, we will still be able to use our sanctions regime,” said Adeeemo. His statements make confusion to the position of the Ministry of Finance on digital currencies, since earlier in October, the Deputy Minister of Finance reported that with the advent of cryptocurrency it becomes more difficult to ensure the effectiveness of sanctions.
Also, Adhereo stressed the dominant role of the dollar in the economy, despite growing interest in cryptocompany. He noted that digital assets can be used for illegal activities. “Ultimately, what will determine the position of the dollar in the world are the decisions that we take in America regarding investing in our economy,” said Adeeemo and noted that the dollar will retain a leading role in the economy.
Earlier in November, the head of the Central Bank of Russia Elvira Nabiullina stated that the regulator would launch the prototype of the digital ruble at the beginning of 2022 in the experiment format. In early June, the Chairman of the Central Bank predicted that digital currencies would play a key role in the future of financial systems.