MOSCOW, Dec 25 Reuters Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Sanctions have complicated Russia39;s trade with its major partners such as China or Turkey, as local banks are extremely cautious with Russiarelated transactions to avoid scrutiny from Western regulators.

This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.

As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia in foreign trade transactions, Siluanov told Russia 24 television channel.

Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year, he said, adding that international payments in digital currencies represent the future.

Earlier this month, President Vladimir Putin said that the current U.S. administration was undermining the role of the U.S dollar as the reserve currency by using it for political purposes, forcing many countries to turn to alternative assets.

He singled out bitcoin as an example of such assets, saying that noone in the world could regulate bitcoin. Putin39;s remarks indicated that the Russian…