Russian Firm ETE Group Pushes for Legal Use of Crypto in International Trade

Highlights:

• ETE Group asked Russia’s prime minister to allow crypto use in cross-border business payments.
• Sanctions have caused long payment delays between Russia and its trade partners.
• More Russian firms now explore crypto as a payment method due to growing difficulties with bank transfers.

ETE Group has sent a letter to Prime Minister Mikhail Mishustin, requesting a change to the Civil and Tax Codes. The logistics company based in Moscow and Vladivostok formally asked the Prime Minister to create a legal structure for using cryptocurrency in international trade.

Specifically, they want Russian companies to be allowed to make payments in digital currencies to foreign suppliers. The company explained that the current lack of clear legal support makes it difficult and risky for businesses to use cryptocurrency in overseas transactions.

RUSSIAN LOGISTICS FIRM URGES LEGAL FRAMEWORK FOR CRYPTO IN GLOBAL TRADE

Russian logistics company ETE Group has formally requested Prime Minister Mikhail Mishustin to create a legal structure allowing the use of crypto for international trade. The firm wants amendments to… pic.twitter.com/CgCLPbp36l

— Crypto Town Hall (@Crypto_TownHall) April 11, 2025

ETE Group also asked for clear rules around how digital currencies should be issued, circulated, and recorded in company accounts. In addition, the company requested that the government identify which authority should manage and monitor these transactions. ETE said that these changes are needed because interest in using crypto for business payments has grown sharply. In fact, the company noted a 40% rise in such interest across the business sector during 2024.

ETE Group currently serves nearly 500 corporate clients. Moreover, the company handles shipments to countries such as China, India, Türkiye, and several others in Southeast Asia. The company stated that delays in international payments have worsened over time.

The delay occurred mainly because of the sanctions and the SWIFT payment network removing Russian banks from its systems. These delays have created major challenges for Russian businesses that depend on cross-border trade. Because of these ongoing issues, the firm believes crypto could help smooth the payment process.

Sanctions Disrupt Payment Flows with Foreign Trade Partners

The company said that crypto offers a potential solution for companies facing delays that often last weeks or even months. For example, in trade with China and Kazakhstan, payments now take much longer than before. ETE explained that these delays extend further with each new round of sanctions. In some cases, companies must wait several weeks or even months to complete a transaction. This delay often depends on the bank involved and the type of documents submitted.

In its letter, ETE Group noted that the payment process has become more difficult due to growing pressure from international sanctions. The firm said that even local banks in China now hesitate to process payments involving Russian companies. According to the company, if a bank suspects that a payment is linked to Russia, it may cancel the transaction. When this happens, the process to reverse the payment can stretch over several weeks.

The company said that many Russian businesses began using crypto for payments after the start of the war in Ukraine in 2022. Russian companies are supposed to use the Central Bank’s test system for cross-border crypto transactions. However, many companies have chosen to operate outside this official framework. This informal use has caused confusion among businesses, which are unsure about how to handle these transactions.

Business Interest in Crypto Continues to Climb

Russian law still does not allow crypto to be used in trade. However, ETE Group pointed out that the rising interest in crypto may force a change in policy. The firm said that changes are needed soon as traditional payment methods continue to face long delays and rising barriers due to sanctions. Recently, Reuters reported that Russia and China may already be using Bitcoin to settle oil trade payments.