Venezuela Collects 80% of Oil Revenue in USDT Amid Sanctions and Tanker Seizures
The country increasingly relies on Tether’s USDT stablecoin for oil sales as international sanctions and vessel confiscations disrupt traditional payment channels.
USDT
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Terms & Concepts
USDT (Tether): A U.S. dollar-pegged stablecoin used in cryptocurrency transactions to maintain price stability.
Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a fiat currency or asset.
Sanctions: Economic or trade restrictions imposed by countries or international bodies to influence political or economic behavior.