Developing nations, particularly India and China, saw better than average trade expansion in the fourth quarter of 2024,  a UN report has said but warned of a “potential for an economic slowdown” globally in the upcoming quarters.

India and China saw strong trade growth in Q4 2024, according to a UN report, while global trade faces potential slowdown in upcoming quarters due to trade imbalances and geopolitical tensions.

Industrial policies are increasingly shaping key sectors such as clean energy, technology, and critical raw materials, raising concerns about distorted competition.

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.

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 turning to bitcoin and crypto to facilitate oil trades with China and India, circumventing sanctions imposed on Ukraine.

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 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.