Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow,

Chinese buyers are back in the market for Russia’s ESPO crude, thanks to prices that have cooled as shippers and middlemen find workarounds to help blunt the impact of US sanctions.

Russia is using cryptocurrencies in its oil trade with China and India to skirt Western sanctions, according to four sources with direct knowledge of the matter.

Russia is using cryptocurrencies in its oil trade with China and India to bypass Western sanctions. This is according to a report from Reuters published on March 14, and which cited multiple sources in the know regarding the matter.

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.

Russia is using cryptocurrencies in its oil trade with China and India to dodge Western sanctions, Reuters reported Friday, citing four sources with direct knowledge of the matter. Russia passed crypto mining legislation in August 2024,

Russia is reportedly utilizing cryptocurrency and stablecoins in its oil trade with China and India to skirt sanctions from Western countries. Russia publicly encouraged the use of cryptocurrencies and passed a law allowing digital currencies last year.