Listen up, you think you’re slick, but Russia’s got a move that’ll make your head spin.
They’re using crypto to dodge Western sanctions in their oil trade with China and India. Bitcoin Ethereum, and USDT are the new players in town.
Oil must flow
It’s like a game of cat and mouse, and Russia’s using crypto to slip through the cracks. These sanctions have been a real pain for Russia, but they’re not backing down.
They’re turning to crypto to keep their oil flowing, converting yuan and rupees into rubles without relying on Western banks.
It’s a small but growing part of their $192 billion oil trade, with tens of millions of dollars moving through crypto each month.
And let’s be real, this isn’t just about oil, it’s about sticking it to the man.
If USD is unavailable, there are new candidates
Russia’s been saying for years that the U.S. dollar is a political weapon, so they’re finding ways around it.
Last December, they changed the rules to let businesses use crypto for international deals.
It’s a clever move, but it comes with risks. Centralized players like Tether can freeze funds if they get a tap on the shoulder from regulators. Still, Russia’s not alone, Iran and Venezuela are doing the same thing.
Crypto is inevitable?
But here’s the thing, guys. Russia’s not just using crypto to dodge sanctions, it looks like they’re all in on digital assets.
They’re testing out a digital ruble and letting some investors trade crypto legally. Even if the sanctions get lifted, Russia’s likely to keep using crypto because it’s fast and flexible.
They’re positioning themselves as a major player in the crypto game, and you can bet they won’t be backing down anytime soon.
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Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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