Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters
While fiat currencies remain the primary method, crypto is seen as a convenient and flexible tool for transactions.
Russia bypassing US sanctions with cryptocurrencies in oil trade
Russia is reportedly utilizing cryptocurrency and stablecoins in its oil trade with China and India to skirt sanctions from Western countries. Russia publicly encouraged the use of cryptocurrencies and passed a law allowing digital currencies last year.
Trump Trade Wars, Sanctions Grip Already-Tight Heavy Oil Market
US President Donald Trump’s trade wars and sanctions are tightening the market for heavy crude, boosting prices for the sludgy oil and raising costs for the largest American refining center.
Russia using cryptocurrency in oil trade with China, India to bypass sanctions, Reuters reports
Russia has begun using cryptocurrencies in oil transactions with China and India to circumvent Western sanctions, Reuters reported on March 14, citing four sources familiar with the matter. The cryptocurrency scheme currently represents a small fraction of Russia's $192 billion annual oil trade,
Russia Uses Crypto to Bypass Sanctions in Oil Trade with China, India: Report
Russia has increasingly turned to cryptocurrencies to facilitate its oil trade with China and India, allowing it to bypass Western sanctions.
Sanctions, trade wars grip already-tight heavy crude market
United States President Donald Trump’s trade wars and sanctions are tightening the market for heavy crude, boosting prices for the sludgy oil and raising costs for the largest American refining centre.
U.S. toughens sanctions on Russian oil, gas and banking sectors
The stiffer restrictions come as the Trump administration is trying to convince Russia to accept terms of a proposed 30-day ceasefire.
Sanctions tighten as U.S. ends Russian oil loophole
The administration of U.S. President Donald Trump did not extend the sanctions waiver that allowed transactions with Russian banks related to the trading of Russian energy carriers. The decision to terminate this loophole was made by Joe Biden's administration and expired on Tuesday.
US tightens grip on Russian oil trade, sanctions bite
The administration of U.S. President Donald Trump has not extended the sanctions waiver that allowed transactions with Russian banks related to trading Russian energy carriers. The decision to terminate this loophole was made by Joe Biden's administration and it expired on Tuesday.
U.S. officials act to block illicit Iranian oil trade with China
Iran is operating a ghost fleet to sell oil to China in violation of existing sanctions, which U.S. officials seek to stop ...
How trade conflict creates uncertainty for Tennessee businesses: 'I was scared to death'
Tariffs on Mexican and Canadian imports were largely rolled back Thursday, but economic uncertainty can carry a gut punch for ...
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Strengthening the Financial Frontline on Russian Trade Sanctions
The adoption of unprecedented and innovative trade measures in response to Russia’s full-scale illegal invasion of Ukraine in 2022 has called for a ‘whole-of-society’ response, with sanctions ...