This quarter, the central bank of the country will start to look into two possible cross-border CBDC settlement models. Reports say that Russia's central bank is about to start working on a cross-border settlement system that will use a central bank digital currency (CBDC). This comes as sanctions against Russia continue because it invaded Ukraine. A local news outlet called Kommersant reported on January 9 that Russia's central bank will study two possible cross-border settlement models as part of its plans to move forward with the digital ruble. This is expected to happen in the first quarter of 2023. In the first model, different countries would make separate bilateral deals with Russia to connect their CBDC systems. Each agreement would make sure that the countries' assets are converted and moved between them according to the rules of the agreement. The second, more complicated model calls for a single hub-like platform where Russia and other countries can talk to each