PAYMENTS OF EAEU COUNTRIES IN THE CONTEXT OF GLOBAL CRISES
https://doi.org/10.24833/2073-8420-2025-1-74-171-182
Abstract
Introduction. The article considers alternative mechanisms of international settlements, which began to be actively used after the introduction of international sanctions against Russia. The article aims to investigate the usage of cryptoassets as clearing instruments in such mechanisms.
Materials and Methods. The relevance of this study is to consider the theoretical aspects of the infrastructure of international payments, as well as the underlying institution of trust. In addition, the transformation of this institution under the influence of sanctions and digital technologies was analyzed. The methodological basis of the study is based on the institutional approach of A. Auzan, as well as modern studies and cases of cryptoassets application for international payments.
Results. The article substantiates that cryptoassets have transformed the institution of trust underlying the agent-based settlement system. In fact, they became an independent instrument of international payments and clearing, which can potentially be used under sanctions restrictions.
Discussion and Conclusion. The conclusions of the study could be applied in the management of large business structures for the forming the infrastructure of international settlements, as well as by government agencies for the development of regulation of cryptoassets.
About the Author
E. D. Manturov
MGIMO University
Russian Federation
Russian Federation
Evgeniy D. Manturov, postgraduate
Moscow
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Review
For citations:
Manturov E.D. PAYMENTS OF EAEU COUNTRIES IN THE CONTEXT OF GLOBAL CRISES. Journal of Law and Administration. 2025;21(1):171-182. (In Russ.) https://doi.org/10.24833/2073-8420-2025-1-74-171-182
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