Amid looming sanctions from the G7 and EU on Russia's SWIFT alternative, some Russian companies are increasingly using cryptocurrencies like USDT (CRYPTO:USDT) for international transactions.
Notably, top Russian metal producers have adopted USDT, a stablecoin pegged to the US dollar, to facilitate payments with Chinese partners, circumventing potential secondary sanctions.
This shift towards crypto is driven by the desire to avoid sanctions-related complications and the efficiency of stablecoin transactions, which are fast and low-cost.
The potential expansion of sanctions to Russia’s Financial Messaging System (SPFS) has further propelled the adoption of cryptocurrencies for cross-border payments.
Experts suggest that stablecoin use in these contexts might increase as Western sanctions continue to pressure traditional financial channels.