Amidst Western economic restrictions, Moscow is forging a new path for its energy trade, using cryptocurrencies to bypass sanctions and ensure the continuity of oil exports.
Cryptos to Bypass Sanctions
Western sanctions have significantly restricted Russia's ability to trade in conventional currencies. Deprived of access to the dollar and the SWIFT system, Moscow has had to explore alternatives to secure its financial flows with its Asian partners. In this context, cryptocurrencies like Bitcoin and Tether have become preferred tools to facilitate cross-border payments.
Potential Long-term Use of Cryptos in BRICS
Beyond the current situation, this strategy could fit into a broader dynamic within the BRICS framework. These emerging economies have been trying for years to reduce their dependence on the US dollar, seen as a geopolitical weapon of the United States.
Questions and Challenges of Cryptos in Global Trade
The use of cryptos by Russia in its oil trade raises several fundamental questions: will cryptos become a strategic leverage for states under sanctions? Will the Russian model inspire other nations? Will BRICS adopt alternative monetary solutions on a large scale?
If this approach becomes generalized, it could disrupt current financial power dynamics and accelerate the transition to a multipolar economy. The coming months will be decisive in observing whether this trend extends to other BRICS members.
