Introduction of the Digital Ruble: What Changes for Individuals and Businesses
Starting September 1, 2026, Russia began introducing the digital ruble as a new form of the national currency for payments by individuals and businesses. It is issued by the Bank of Russia, which also operates the digital ruble platform and keeps the record of transactions. Customers of banks connected to the platform can open digital ruble accounts, transfer funds, and pay for goods, works, and services.
The obligation to accept digital ruble payments is being phased in:
- From September 1, 2026: it applies to sellers of goods, works, and services whose annual revenue for the previous calendar year exceeds RUB 120,000,000, provided they are customers of systemically important credit institutions. The Bank of Russia determines and publishes the list of these institutions.
- From September 1, 2027: it applies to sellers with annual revenue over RUB 30,000,000.
- From September 1, 2028: it applies to all remaining sellers with annual revenue of RUB 20,000,000 or more.
The obligation does not apply to businesses with revenue below RUB 20,000,000, to retail outlets with revenue below RUB 5,000,000, or to points of sale without Internet access.
Using the digital ruble is voluntary. It does not replace cash or non-cash payments, so individuals and organizations can choose whichever payment method is available to them.
Sources
- Federal Law No. 248-FZ of July 23, 2025, "On Amendments to Certain Legislative Acts of the Russian Federation"
- Bank of Russia Directive No. 5778-U of April 13, 2021, "On the Methodology for Identifying Systemically Important Credit Institutions"