Amid tightening international sanctions, Russian companies have turned to using cryptocurrencies like Bit and Tether (USDT) to conduct trade transactions with China and India. This is seen as a strategic move that helps Russian oil companies maintain global trade operations without being affected by financial restrictions.

According to Reuters, many oil companies in Russia are conducting transactions worth tens of millions of USD per month through digital assets. Bit and USDT are increasingly becoming essential means of payment, especially in transactions with China and India - two important trade partners.

Oil trading through cryptocurrencies often involves intermediaries. A Chinese oil importer may pay in Chinese Yuan into the overseas account of an intermediary. The money is then converted into cryptocurrency and forwarded to the account of a Russian company, before being converted back into Ruble.

This system helps Russian businesses avoid control by international financial agencies, ensuring the continuity of trade flows uninterrupted by sanctions.

Whether sanctions are eased or not, cryptocurrencies are proving to play an increasingly important role in Russia's oil trade. A source said: "Cryptocurrencies are a fast and efficient means of payment, facilitating transactions more smoothly."

In the context of escalating geopolitical tensions, the demand for the use of digital assets in Russia's international trade is expected to continue increasing.