Russian companies have been using cryptocurrencies such as Bitcoin and USDT to promote international trade with China and India, Reuters reported.
Rossian oil companies have been using crypto assets like Bitcoin (BTC) and USDT of tether (USDT) To accelerate international transactions, Reuters Report On March 14, four sources were cited that directly understand the matter.
According to a source, a Russian oil trader reportedly used digital assets to conduct tens of millions of dollars in monthly transactions.
Russian Finance Minister publicly announced Russia can use Bitcoin and other assets for free At the end of 2025, use cryptocurrencies in oil transactions with China and India.
Russia’s oil trade in cryptocurrencies: How does it work?
According to Reuters, the process of cryptocurrency’s foreign oil trade involves middlemen who manage offshore accounts and facilitate buyers’ local currency transactions.
One example includes a Chinese buyer of Russian oil who paid off an offshore account to a trading company that worked as a middleman in Yuanli.
The source said the middleman then converts the payment into a crypto asset and transfers it to another account, which is then sent to a third account in Russia and converts it into a Russian ruble.
Regardless of sanctions, cryptocurrencies will be used
According to a Reuters source, cryptocurrencies may continue to be used in Russia’s foreign oil transactions, and Russia can freely use the US dollar even if sanctions are lifted.
“This is a handy tool that can help run operations faster,” the report said.
The news came from the Russian Bank. Proposal to legalize cryptocurrency investment For high net worth individuals with at least $1.1 million in securities and deposits.
This is a developing story and will add more information when it is available.
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