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Belarus Wants to Use Its CBDC to Evade Sanctions

Belarus wants to accelerate the launch of its CBDC as it looks to evade US and EU-led sanctions and let its firms trade with international partners. Per Belarus’ Ekonomicheskaya Gazeta, President Alexander Lukashenko could issue a CBDC-related verdict in the coming days. Minsk, like Moscow, has been hit with several packages of economic sanctions following the outbreak of war in Ukraine. Belarusian government officials have been exploring CBDC issuance for several years. Tellingly, the National Bank of the Republic of Belarus (NBRB) began talking up the digital BYN’s cross-border credentials from the outset. The media outlet called the CBDC a “mechanism”.

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