THE IMPACT OF THE INTRODUCTION OF THE DIGITAL RUBLE ON BUSINESS DEVELOPMENT IN THE CONTEXT OF THE GLOBAL ECONOMY

Abstract

The article examines the impact of the digital ruble implementation on Russian business development in comparison with global practices of central bank digital currencies (CBDCs). Based on data from the Bank of Russia, the National Rating Agency, and international organizations (IMF, BIS), the study analyzes key effects: reduction of transaction costs to 0.3% compared to 1.5–2.5% for traditional acquiring, phased mandatory adoption for merchants starting in 2026, and automation of settlements through smart contracts. Risks for the banking sector (loss of fee income up to RUB 50 billion annually) and compensation opportunities via new products are discussed. Special attention is paid to the cross-border potential of the digital ruble — integration with China's e-CNY, the mBridge platform, and settlements within BRICS. Using the examples of China’s e-CNY, Nigeria’s eNaira, India’s e-rupee, and Brazil’s Drex, the study highlights successes and failures of various CBDC models. It is concluded that with sound regulatory policies, the digital ruble can generate an annual economic effect of RUB 260–300 billion, improve transparency of budget expenditures, and strengthen national financial sovereignty.