Russia Turns to Cryptocurrency in Oil Trade with China and India

by Giorgi Kostiuk

a year ago

Russia has turned to cryptocurrencies to facilitate its oil trade with China and India, aiming to bypass Western sanctions.

Russia Expands Cryptocurrency Usage in Oil Trade

Russia has started using cryptocurrencies like Bitcoin, Ethereum, and Tether USDT to convert Chinese yuan into rubles, circumventing sanctions.

Sources claim that Russia is increasingly adopting cryptocurrencies in its oil trade as part of Moscow's strategy to bypass US sanctions.

Cryptocurrency Procedures in Trade Deals

Cryptocurrencies are used to ease exchanges between the Indian rupee, Chinese yuan, and Russian ruble. Through intermediaries, yuan is converted into cryptocurrency and then transferred to a Russian entity for conversion into rubles.

Other Countries Follow Russia's Example

Iran and Venezuela have also started adopting cryptocurrency for oil payments to bypass sanctions. The US and Europe have stepped up efforts to clamp down on Russia's crypto activities.

The use of cryptocurrency in oil trade is becoming an alternative for countries facing sanctions, posing challenges to international financial systems.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Nvidia Stock Faces Bearish Signals Amid Recent Downturn

Nvidia's stock opened at 217 after a significant drop, with experts warning of potential further declines.

Rajesh Kumar2 hours ago

Defillama Releases New Report on Crypto Metrics

A new report has been released by Defillama focusing on key metrics in the crypto space.

Miguel Rodriguez4 hours ago

Centcom Releases New Report on Military Operations

A report has been released by Centcom focusing on various military operations, emphasizing accuracy, relevance, and impartiality.

Luis Flores4 hours ago

Interest Rate Hike and Strong Dollar Could Impact Bitcoin Prices

The potential interest rate hike and a stronger dollar could lead to a price correction for Bitcoin.

Maria Gutierrez9 hours ago

Kevin Warsh's Hawkish Speech Raises Inflation Concerns

Federal Reserve Chair Kevin Warsh delivered a hawkish speech at the Jackson Hole meeting on August 28, 2026, emphasizing inflation risks and interest rate expectations.