🔥Russian oil companies use cryptocurrencies to trade with China and India 👀
Russian companies have been using #bitcoin and #USDT for oil trading with China and India, amidst international sanctions, according to a Reuters report.
According to Reuters, to carry out these operations with #Criptomonedas , intermediaries who have accounts in tax havens are used, facilitating transactions in the buyer's local currency.
As an example, if a Chinese buyer seeks to purchase Russian oil, what they need to do is contact the intermediary to pay them in yuan. Later, the intermediary converts these yuan into #criptoactivos and transfers it to another account, which in turn sends it to a third account in Russia, so that finally the latter converts the crypto-assets into Russian rubles, according to sources. A master move! .
Obviously, these are mechanisms that some traders have used due to international sanctions regarding the use of the dollar. However, it is not ruled out that this method will continue to be used if sanctions are lifted, due to the benefits that the use of crypto-assets brings, such as the speed of transactions.
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