Crypto and Oil: How Russia Might Get Around Sanctions Introduction As a consequence of geopolitical pressure, Russia has been the victim of numerous Western sanctions. One of these sanction targets some key sectors of activity, like the profitable oil market, the fulcrum on which Russian wealth is constructed. With increasing isolation from classical economic systems, alternative means are evidently being investigated whereby Russia may keep its enterprises flowing. An accessible solution seems available in the arena of cryptocurrency. The decentralized architecture of blockchain technology presents an opportunity to circumvent economic sanctions, permitting transactions out of the jurisdiction of traditional banking…
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