Russia Secretly Uses Crypto for Oil Payments with China and India
Russia uses crypto for oil payments with China and India, bypassing sanctions. Digital currencies reshape global trade.
Russia leans on cryptocurrencies for oil trade, sources say
Russia is using cryptocurrencies in its oil trade with China and India to skirt Western sanctions, according to four sources with direct knowledge of the matter.
Crypto Reportedly Fueling Russia’s $192B Oil Trade With China and India, Insiders Reveal
Russia is increasingly using Bitcoin, Ether, and stablecoins like Tether in its oil trade with China and India. Finance Minister Anton Siluanov previously confirmed that
Russia using cryptocurrency in oil trade with China, India to bypass sanctions, Reuters reports
The cryptocurrency scheme currently represents a small fraction of Russia's $192 billion annual oil trade, according to the International Energy Agency, but its usage is reportedly increasing.
Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters
While fiat currencies remain the primary method, crypto is seen as a convenient and flexible tool for transactions.
US tightens grip on Russian oil trade, sanctions bite
The administration of U.S. President Donald Trump has not extended the sanctions waiver that allowed transactions with Russian banks related to trading Russian energy carriers. The decision to terminate this loophole was made by Joe Biden's administration and it expired on Tuesday.
Russia uses crypto in Chinese and Indian oil trade
Russia is using cryptocurrencies in its oil trade with China and India to dodge Western sanctions, Reuters reports citing unnamed sources. As reported by bne IntelliNews, Russia passed legislation on crypto mining in August 2024,
Russia uses cryptocurrencies for oil trade with China and India – Reuters
Russia uses cryptocurrencies in oil trade with China and India to evade Western sanctions, informs Reuters. Some Russian oil companies use Bitcoin, Ethereum, and stablecoins such as Tether to facilitate the conversion of Chinese yuan and Indian rupees into Russian rubles,
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