Deputy Chief of Staff of the Russian Presidential Executive Office Maxim Oreshkin stated that regulators in Russia and India are working on the issue of using digital financial assets for joint trading.

According to Maxim Oreshkin, after a meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, an agreement was reached to expand banking cooperation.

The senior official stressed that in order to develop trade, countries can begin to use not only national currencies, but also digital financial assets (DFA).

“A separate topic – digital financial assets – is also important from the point of view of the prospect of establishing additional channels, additional instruments – more effective than using the traditional banking system. There are agreements on interaction between the Central Banks of the two countries on these issues,” said Maxim Oreshkin.

He also noted that digital financial instruments can be considered effective tools that allow overcoming sanctions imposed against Russia by the US, EU and a number of other countries.

Earlier, the Russian Union of Industrialists and Entrepreneurs (RSPP) proposed creating a special cryptocurrency fund for cross-border payments with foreign partners.