Russia Ditches the Dollar

Russia Using Crypto in Chinese and Indian Oil Trade – Reuters
Russia is using cryptocurrencies in its oil trade with China and India to dodge Western sanctions, Reuters reported Friday, citing four sources with direct knowledge of the matter. Russia passed crypto mining legislation in August 2024,
Russia Turns to Crypto for Oil Trade with India and China Amid Sanctions, Sources Reveal
Russia is using Bitcoin, Ethereum, and Tether in oil trade with China and India to bypass sanctions, following a growing global shift toward crypto.
Russia Ditches the Dollar and Turns to Bitcoin for Oil Trade with China and India
Russia isn’t waiting around for financial restrictions to ease. According to Reuters, Russian oil companies are sidestepping global
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. While Russia has publicly encouraged the use of crypto and last summer passed a law to allow digital currency payments in international trade,
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.
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