Russia is transferred to crypto in oil trade

Russia is more and more used by cryptocurrency in its petroleum store with top clients China and India due to American sanctions, Reuters have exportSpecifying unnamed sources, which said that Russian oil traders used cryptocurrency to facilitate the conversion of Yuan and Rupees in Rublene.

For now, the amount of oil traded in cryptocurrencies a small part of the total number of Russia, the sources said Reuters, but grows. The total total oil in oil in oil last year was 912 billion dollars, according to the International Energy Agency.

Cryptocurrencies have become a favored way for detour sanctions, and Iran and Venezuela and eavesdropping in the international trade potential of digital currencies in the context of American sanctions.

One of the sources of Reuters explained the trade mechanism as the involvement of the customer who paid a burden in intermediaries of companies, say, Yuan, which was deposited in the offshore account. Middleman converts Yuan to cryptocurrency and conveys it to another account. Then the sum switched to the third account in Russia where it turns into rubles. It is a complicated mechanism that proves an oil demand enough to go to problems of all these conversions to get the burden.

According to one of the sources, only one monthly scope of Russian oil trading oil are in tens of millions of dollars.

In the meantime, sanctions appear on the Russian oil industry to lose efficiency, as the sanctioned tankers are starting again, according to Bloomberg Julian Lee again. Columnist export This week is that three sanctioned tankers loaded by the leading State of East Siberia Pacific Ocean Ocean and headed from a far eastern port of Nakhodka. Multiple tankers also cut off from Oil Luka, Lee added, stating data with satellite pictures. The tanks were previously pursued on the bow due to sanctions.

Irina Slaven for Nanjnici.com

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