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 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 utilizing cryptocurrencies like bitcoin, ether, and stablecoins in its oil trade with China and India to bypass Western sanctions. This practice assists in converting currencies such as Chinese yuan and Indian rupees into Russian roubles.