This quarter, the central bank will study two CBDC settlement models. Russia's central bank is reportedly developing a cross-border settlement system using a CBDC amid ongoing sanctions over its invasion of Ukraine. According to Kommersant, Russia's central bank will study two possible cross-border settlement models in the first quarter of 2023. First, countries enter bilateral agreements with Russia to integrate their CBDC systems. Each agreement would ensure asset conversion and transfer follow the rules. The second model proposes a hub-like platform for Russia to interact with other countries, sharing common protocols and standards to facilitate payments. Roman Prokhorov, head of the AFI, said the first model was easier to implement but less promising for bilateral interactions between countries. The other option was more "advanced," and he considered a two-way system with China as the most likely partner given its "technological and political readiness."