<ul><li>Russia is using cryptocurrencies like Bitcoin, Ethereum, and Tether in its oil trade with China and India to bypass Western sanctions.</li><li>Some Russian oil companies convert yuan and rupees into crypto before exchanging them for rubles, making transactions smoother and avoiding restrictions.</li><li>The use of cryptocurrencies in oil trade is on the rise in Russia, helping the country mitigate the effects of sanctions and enable faster cross-border payments.</li><li>Other countries, such as Iran, Venezuela, and Bolivia, have also turned to cryptocurrencies in their oil trade to reduce reliance on the US dollar and circumvent economic restrictions.</li></ul>

Russia Turns to Crypto for Oil Trade with India and China Amid Sanctions, Sources Reveal

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