Russia is reportedly utilizing cryptocurrency and stablecoins in its oil trade with China and India to skirt sanctions from Western countries. Russia publicly encouraged the use of cryptocurrencies and passed a law allowing digital currencies last year.

Russia is turning to bitcoin and crypto to facilitate oil trades with China and India, circumventing sanctions imposed on Ukraine.

While fiat currencies remain the primary method, crypto is seen as a convenient and flexible tool for transactions.

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 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,

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.

Russia is increasingly using cryptocurrencies in its oil trade with China and India to circumvent U.S. sanctions, facilitating the conversion of yuans and rupees into rubles.

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

Sources indicate Russia is increasingly using cryptocurrencies for oil trade as it navigates international financial restrictions.

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.