In the past, the Bank of Russia stated its intention to launch its digital ruble by 2024, connecting all banks and credit institutions to the CBDC platform
According to a recent report, Russia's central bank plans to develop a cross-border settlement system using a central bank digital currency (CBDC) in response to ongoing sanctions related to its invasion of Ukraine.
These plans, which involve the study of two possible models for the settlement system, are planned to be implemented in the first three months of 2023.