MIAMI, United States — The regimes of Russia and Cuba are studying the possibility of using rubles and cryptocurrencies in mutual commercial transactions to circumvent the international sanctions that weigh on both countries.
The possibility was slipped to the agency TASS by the Russian presidential commissioner for businessmen’s rights, Boris Titov, who is in Havana for the 38th Havana International Fair (FIHAV-2022).
“All of us, Cuba and Russia, are under sanctions. The circulation of the dollar is the main financial mechanism that exists in the world for mutual payments, although today mechanisms are being developed at the level of the governments of the countries to change the situation,” Titov told the state media.
The official explained that there are legal alternatives that would allow this commercial exchange to be carried out without prejudice to the parties.
“I know that various options are being considered, including (payments) in rubles. Businesses are often more flexible, making it easier to find legal ways. The issue of mutual payments in cryptocurrencies and the possibility of paying through clearing mechanisms and private mechanisms are also being discussed,” Titov added.
Despite the multiple sanctions that weigh on the Eurasian country for the invasion of Ukrainethe Cuban regime continues to have Moscow as one of its strategic allies.
This Wednesday, Russia confirmed that the Cuban ruler, Miguel Díaz-Canel, will visit Moscow next week and that he will be received by the Kremlin boss, Vladimir Putin.
“We are waiting for President Bermúdez and contacts are being prepared between the presidents of the two countries,” declared the spokesman for the Russian Presidency, Dmitri Peskov at his regular telephone press conference.
Previously, Cuban diplomatic sources had reported on Díaz-Canel’s plans to visit the Russian capital and participate in the inauguration of a monument to Fidel Castro in Moscowevent scheduled for November 22.
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