Russia, BRICS, And Crypto : A New Global Finance Order ?

In the shadow of the economic restrictions imposed by the West, Moscow is charting a new path for its energy trade. Faced with exclusion from the international financial system, Russia has found an alternative solution: the use of Bitcoin (BTC) and Tether (USDt) to bypass sanctions and ensure the continuity of its oil exports to its BRICS allies.

An oil trade now backed by cryptos

Western sanctions have significantly restricted Russia’s ability to trade in conventional currencies. Deprived of access to the dollar and the SWIFT system, Moscow has had to explore other options with its BRICS partners to secure its financial flows with its Asian partners. It is in this context that cryptos like Bitcoin and Tether (USDt) have become preferred tools to facilitate cross-border payments.

• An economic necessity : in the face of restrictions, Russia has had to turn to alternatives to maintain its international trade ;
• Bypassing sanctions : cryptos allow avoiding Western banking restrictions by operating outside traditional circuits ;
• Significant volumes : a Russian oil trader reportedly stated that these transactions represent tens of millions of dollars each month.

The process relies on a system of intermediaries and offshore accounts. Specifically :

• A Chinese buyer of Russian oil pays in yuan into an offshore account ;
• The financial intermediary converts this amount into crypto ;
• The funds are then transferred to Russia, where they are exchanged for rubles.

This mechanism allows accelerating transactions, ensuring better financial discretion and operating without going through banks under international surveillance.

Towards a sustainable adoption of cryptos in BRICS trade ?

Beyond its conjunctural aspect, this strategy could fit into a broader dynamic, particularly within the BRICS framework. These emerging economies have been trying for several years to reduce their dependence on the US dollar, seen as a geopolitical weapon of the United States.

• An emerging trend : other states under sanctions may follow the Russian example and adopt cryptos for international trade ;
• A threat to the dollar : if BRICS generalize the use of cryptos, it could weaken the hegemony of the greenback in global exchanges ;
• A strategic positioning : Russia is testing an economic model that could be replicated and amplified in the future.

However, some partners of the BRICS alliance like China and India remain cautious regarding the rise of cryptos.

• A contrasting posture : although China allows certain transactions in digital yuan, the government continues to restrict the use of Bitcoin on its territory ;
• An still unclear legal framework : the question remains open about the future of crypto transactions in official Chinese trade ;
• Internal resistances: the central banks of BRICS may hesitate before adopting cryptos massively as a transaction tool.

Nevertheless, even if sanctions are eased, “crypto will remain a key tool, as it allows for faster and unrestricted operations.”.

The use of cryptos by Russia in its oil trade raises several fundamental questions:

• Will cryptos become a strategic leverage for states under sanctions ?
• Will the Russian model inspire other nations ?
• Will BRICS adopt alternative monetary solutions on a large scale ?

If this approach were to become generalized, it could disrupt financial power dynamics and accelerate the transition to a multipolar economy, less dependent on Western institutions. The coming months will be decisive in observing whether this trend extends to other BRICS members and if the rise of cryptos in global trade becomes inevitable.