Putin urges greater public awareness of digital ruble, differences from cashless payments

Vladimir Putin said Wednesday that the digital ruble became a full-fledged payment instrument in the Russian financial system Sept. 1, as he urged greater public awareness of how it differs from conventional cashless payments.

The Russian president told a government meeting in Moscow that people do not fully understand the differences or potential advantages of the digital currency.

“People, I think, do not quite understand what the difference is between ordinary cashless payments and using the digital ruble, what the advantages are or what the difference is for an ordinary citizen,” he said.

Putin asked Central Bank Governor Elvira Nabiullina and Finance Minister Anton Siluanov to explain the differences and potential advantages to the public in greater detail.

He also addressed the recent State Duma elections, thanking Russians for taking part in the electoral campaign.

Putin also accused Ukraine and the West of attempting to disrupt the elections, citing Ukrainian air attacks on Moscow and other Russian regions.

“Queues at polling stations show that it is impossible to intimidate Russia,” he said, adding that the high turnout demonstrated, in his view, public support for efforts to strengthen the country.

He said the government had a major role to play in meeting expectations of citizens, including through monetary and social policy, and in working on key national development priorities.

Addressing Russian military forces and commanders on the front lines, Putin said the election vote was also “for you,” claiming that people trusted their courage and commitment.