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      Russian Ministry of Finance Issues Salaries in Digital Rubles for First Time

      The Russian Ministry of Finance announced on October 4, 2026, that it has issued employee salaries in digital rubles for the first time. This initiative, which began on October 1, allows Russian citizens to receive their salaries in the central bank digital currency on a voluntary basis. However, the ministry did not disclose the number of employees participating in this pilot program or the total amount of salaries distributed.

      Approximately 16 million digital rubles, equivalent to about 192,200 USD, have been allocated for this pilot initiative as part of the federal budget expenditure for 2025. The Ministry of Finance is collaborating with the Central Bank of Russia to integrate digital rubles into the budget process, marking a significant step in the country's financial innovation efforts.

      The development of the digital ruble commenced in 2021, with plans to officially launch the currency on September 1, 2026. Major banks and retail businesses are expected to support transactions involving the digital ruble. However, the introduction of this currency has faced scrutiny, as European Union authorities imposed restrictions on it in April 2026.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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