Russia using Bitcoin, USDt for oil trades with China and India: Report

Russian oil firms are using Bitcoin and USDT for international trade with China and India despite global sanctions, according to Reuters.

Russian companies have been using cryptocurrencies like Bitcoin and USDt to facilitate international trade with China and India, according to a Reuters report.

Russian oil companies have been using crypto assets like Bitcoin (BTC) and Tether’s USDt (USDT) to accelerate international trades, Reuters reported on March 14, citing four sources with direct knowledge of the matter.

One Russian oil trader reportedly conducts tens of millions of dollars worth of monthly transactions using digital assets, according to a source who spoke on condition of anonymity due to a non-disclosure agreement.

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