Venezuela Uses USDT to Evade U.S. Sanctions on Oil Payments
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 10 2026- Financial Shift: Since 2024, the Venezuelan government has begun using the USDT stablecoin for oil payments to circumvent the sanctions imposed by the Trump administration in 2019 on its state-owned oil company and central bank, demonstrating adaptability under economic pressure.
- Sanction Implications: This move not only challenges the effectiveness of U.S. financial sanctions but also highlights the resilience and adaptability of economies under financial restrictions, potentially impacting global sanctions enforcement.
- Geopolitical Dynamics: The conversation between Trump and Putin underscores the financial support relationship between Venezuela and Russia, with Russia seeking de-dollarization through alternative payment systems, further exacerbating global economic uncertainties.
- Role of Digital Assets: The increasing role of cryptocurrencies in bypassing economic barriers is becoming evident, similar to patterns observed in Iran and North Korea, which may lead to broader adoption of digital currencies for international transactions, challenging existing financial regulatory frameworks.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
