In recent times, Russia has adopted a new route for its oil sale, proving to be a way to avoid restrictions imposed by Western countries. Russia, which has already been a supporter of cryptocurrency, is now using Crypto to sell oil to India and China. The step is an important financial strategy for Russia, trying to strengthen its position in global oil trade. In particular, this cryptocurrency is being used to avoid traditional financial systems, ignoring the economic sanctions imposed by Western countries.
Increased use of Russia and Cryptocurrency
Russia’s oil companies now like Bitcoin, Ethereum and Tether Stablecoins It is using using the currency of China and India into Russian Ruble. This process accelerates the speed of transactions and helps to avoid restrictions. This move of Russia is already similar to the crypto use adopted by countries such as Iran and Venezuela. These countries are also using cryptocurrency to avoid US dollars.
According to an Oil merchant from Russia, he performs several million dollars crypto transactions every month, especially to sell oil to China. In this process, Chinese buyers pay a trading company to Yuan, which then converts it into crypto and sends it through various accounts. After this, this money is paid to Ruble in Russia.
Export of oil for India and the future of Crypto
India is a large oil customer of Russia and now Russia is selling oil to India through cryptocurrency. Although traditional currency still plays a major role in Russia’s oil trading, the use of cryptocurrency is increasing rapidly. This is helping Russia to avoid global economic crisis and complete its energy requirements.
Experts say that even if the Western restrictions are lifted, Russia can continue using cryptocurrency in future also. Meanwhile, UAE Dirham is also being used in some payment, which adds a new dimension to Russia’s oil trade.
Conclusion
Russian Cryptocurrency Using is proving to be a new and effective method for global trade. This is not only helping Russia to face economic challenges, but it is making trade with countries like India and China even stronger. Through cryptocurrency, Russia is accelerating its oil sales and bypassing Western sanctions, which can increase its use in the future.
This step can prove to be a significant change not only for Russia, but also for global oil trade, which can raise new questions about the future of cryptocurrency.
Also read:Memefi day-to-day codes for November 15, Aron Virtual Coin
