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Unnamed Insiders Allege Russia Taps Crypto Assets to Facilitate Oil Trade With China and India
14.3.2025
Based on whispers from unnamed insiders quoted by Reuters, Russia is reportedly turning to bitcoin, ether, and stablecoins as tools in its oil trade with China and India. These insiders, described as having “direct knowledge of the matter,” opted to stay in the shadows, citing...
Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters
14.3.2025
While fiat currencies remain the primary method, crypto is seen as a convenient and flexible tool for transactions
Russia using Bitcoin, USDt for oil trades with China and India: Report
14.3.2025
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...
Stablecoin Giant Tether Enters Oil Trade by Financing $45M Middle Eastern Crude Deal
8.11.2024
The USDT issuer is expanding in trade finance, seeking to carve out a niche in the $10 trillion ecosystem
Tether expands into oil trading with $45M transaction
8.11.2024
Completed in October 2024, the deal facilitated the transport of 670,000 barrels of crude oil and marked Tether’s entry into the commodity trading market
BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says
26.9.2024
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s...
Digital Yuan Enters Oil Market as PetroChina Finalizes First International Crude Trade in CBDC
23.10.2023
PetroChina inked a major deal on October 18, becoming the first company to complete an international crude oil trade using China's central bank digital currency (CBDC), the Digital Yuan. The transaction was reported by China Daily, a media outlet owned by the Chinese Communist Party.
This move...
PetroChina Completes First International Crude Oil Trade in Digital Yuan: Report
23.10.2023
PetroChina bought 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange
India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade
8.3.2023
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S....
Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value
16.10.2021
Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian...
After Pundits Predicted Bitcoin’s Death for 11 Years, Barrels of Crude Oil Trade Below Zero
21.4.2020
Global markets had a historical day on Monday, as the price of oil dropped below zero and closed the day at -$36 per barrel of crude. The oil crash below zero has never happened in anyone’s lifetime and economists worldwide are uncertain about the future of the world’s financial system...
Standard Chartered & IFFCO Completed Palm Oil Trade Using Dltledgers Platform
5.11.2019
In a development that could eventually have far-reaching implications for businesses, IFFCO Singapore and Standard Chartered completed a palm oil trade using the blockchain platforms powered by dltledgers. The deal in question was not only about palm oil but also its extracts. However, the more...