Russia is increasingly using Bitcoin, Ether, and stablecoins like Tether in its oil trade with China and India. Finance Minister Anton Siluanov previously confirmed that

Russian companies have been using cryptocurrencies like Bitcoin and USDt to facilitate trade with China and India amid international sanctions, according to a Reuters report. Russian oil companies have used crypto assets including Bitcoin (BTC) and Tether’s USDt (USDT) for international trade,

The cryptocurrency scheme currently represents a small fraction of Russia's $192 billion annual oil trade, according to the International Energy Agency, but its usage is reportedly increasing.