RATE Group | Russian Lawmaker Suggests Gold-Linked Cryptocurrency for Arms Exports
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Russian Lawmaker Suggests Gold-Linked Cryptocurrency for Arms Exports

Russian Lawmaker Suggests Gold-Linked Cryptocurrency for Arms Exports

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Russia Missiles Gold Cryptocurrency

A senior Russian lawmaker has suggested that Moscow should turn to cryptocurrency, backed by gold, for payments in Russian arms exports to evade financial sanctions from the west.

Prominent lawmaker Vladimir Gutenev, first deputy head of the economic policy Committee at the State Duma (the Russian Parliament’s lower chamber), has urged the Kremlin to suspend treaties with the United States amid an escalating policy-war.

In April, the Trump administration talked up new sanctions against Russia as punishment for the latter’s involvement in the Syrian conflict.

In a notice the following month, the United States sanctioned six Russian entities for allegedly violating its weapons of mass…

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