Report: Russia Leveraging Crypto for Oil Trade to Bypass Sanctions

Description

Russia has reportedly turned to cryptocurrencies to facilitate its oil trade with India and China, using digital assets to circumvent Western sanctions. While fiat currencies like the UAE dirham still dominate the majority of transactions, digital assets are becoming a small but growing component of the country’s energy trade. Deepening Crypto Adoption The development was first reported by Reuters, which, citing unidentified sources, stated that Russian oil companies are using Bitcoin (BTC), Eth...