Imagine money that's not controlled by banks! That's cryptocurrency, like Bitcoin and Ethereum. Russia is using it to buy and sell oil with China and India. This is because of rules (sanctions) that make it hard for Russia to use regular money. It's a bit sneaky!
This new way of paying is still small, but it's growing. It lets Russia get around the rules more easily. It's faster and more flexible than using normal banks.
But things are changing. China is buying less Russian oil because of worries about the US rules. This might make oil more expensive.
- Russia is using crypto to sell oil.
- China and India are buying Russian oil using crypto.
- This helps Russia avoid some rules.
- It's a faster way to pay.
| Fact | Number |
|---|---|
| Current use of crypto in Russian oil trade | Small fraction of $192 billion |
| Annual Russian oil trade | $192 billion |
