RussiaHe began to overcome Western sanctions using crypto currencies in oil trade with China and India. According to sources speaking to Reuters, Russian oil companies Bitcoin (BTC) $83,100.85, Ethereum (ETH) 
$1,900.00 And Tether (USDT) accelerates payments by turning the Chinese yuan and Indian rupees into Russian rubles over crypto currencies. Russian companies wishing to avoid sanctions have been reported to have made tens of millions of dollars of crypto currency.
Crypto currencies stand out in Russia’s oil trade
Western sanctions Russia, which was forced to trade through traditional banking channels, changed its laws in December and made it possible to use crypto currencies in international payments. Russian Finance Minister Anton SiluanovAfter these changes, the transactions made with crypto currencies have accelerated.
Oil tradeThe use of crypto currencies is also considered as part of the Russian Central Bank’s work to develop digital infrastructure. In a report published last year, it was announced that the bank accelerated this process and was working on various alternatives to overcome sanctions. However, according to experts crypto currencys is not the only method Russia used in oil trade.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
Although the US and the European Union has imposed sanctions on some Russian -based crypto currency exchanges, it is known that these exchanges are still operating. Especially GARANTEX Such exchanges continue to serve Russian users despite US sanctions.
New arrangements for crypto currency have been brought
Russia, Use of crypto currency Although it forbids in certain areas, it has brought new regulations to increase its use in international trade. Recently, the Central Bank of Russia launched a three -year pilot program that allows certain investors to trade crypto currency. Investors who can participate in this program have to have more than 100 million Russian rubles or an annual income level of 50 million Russian rubles. For companies, certain legal regulations need to be complied with. However, the Central Bank’s crypto currencies within the country payment tool is still opposed to its use.
On the other hand Russian ParliamentHe agreed to an arrangement that legalized crypto currency mining. While the new law officially recognizes mining activities, it requires those who perform these transactions to register to the state. However, in some regions, limits of mining due to energy consumption continue to be imposed.
Russia’s digital Russian rubles are also accelerating. The digital money tested by the Central Bank will be available gradually this year. However, since the digital Russian ruble will be managed through a central system, it is not seen as an alternative to Bitcoin and other decentralized crypto currencies.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
