western sanctions – DIGIT INFO

BRICS Slashes US Dollar and Euro Transactions to Below 30%

DIGIT — Sat, 12 Oct 2024 03:46:20 +0000

BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states, signaling a strategic shift to reduce dependency on Western financial systems. The trend has accelerated due to sanctions […]

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Billions in Settlements Disrupted, Blockchain Gaming Boom, and More — Week in Review

DIGIT — Sun, 15 Sep 2024 12:46:15 +0000

Recent Western sanctions have disrupted over $55 billion in trade settlements between Russia and Turkey. Cameron Thacker of Mythical Games believes the current blockchain gaming surge is more stable, as it focuses on better user experiences rather than hype. In the UK, a new bill recognizes digital assets like bitcoin as personal property. Bitfinex analysts […]

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Analysts Weigh In on BRICS Currency as Tool to Face US Dollar-Based Sanctions

DIGIT — Fri, 14 Apr 2023 09:49:57 +0000

Analysts have begun considering using a future BRICS currency to sidestep U.S. sanctions and the dollar’s influence in international markets. While the rise of the U.S. dollar was significant to spur an era of economic growth after World War II, the so-called weaponization of its ubiquitous use has made some countries consider other options for […]

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India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade

DIGIT — Wed, 08 Mar 2023 22:04:57 +0000

On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure. Sources Say Non-U.S. […]

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Crypto Lender Nexo Under Investigation for Alleged Money Laundering, Russian Sanction Violations in Bulgaria

DIGIT — Thu, 12 Jan 2023 15:00:01 +0000

According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police. Bulgarian Law Enforcement […]

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Putin Threatens to Let Europe ‘Freeze’ — Russian President Warns ‘We Will Not Supply Gas, Oil, Coal, Heating Oil’

DIGIT — Wed, 07 Sep 2022 23:30:31 +0000

Following the discussions concerning the inter-governmental political forum Group of Seven (G7) pledging to impose price caps on crude oil and the European Commission talking about fixing electricity prices, Russian president Vladimir Putin explained on Wednesday that Russia will not supply the industrialized economic powers and the West with energy. “We will not supply gas, […]

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US Senators Introduce Crypto Sanctions Bill — Expert Says It’s Overbroad, Unconstitutional

DIGIT — Sat, 19 Mar 2022 01:30:11 +0000

U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance […]

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