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News Link • Iran

How Iran Can Use Bitcoin to Avoid US Sanctions

• https://www.themaven.net

Effective Nov. 4, Trump demands all trade with Iran to cease. Iran can potentially use Bitcoin as a workaround.

In case you missed it, Trump Effectively Declared Economic War on Iran.

Trump is pressuring the world to stop trading with Iran. And starting November 4, Trump will sanction any country or company that does.

The feature image is from Iran Bans 1,300 Imports, Prepares To Resist Threatened US Sanctions.

The order suggests the US sanctions threat is pushing Tehran back towards running a "resistance economy" designed to conserve foreign exchange reserves

The EU announced a "Blocking Statute" that would allow companies to deal with Iran but companies that do so will be cutoff from US markets. And any EU bank that skirts the rules will find it is quickly locked up.

Thus, Trump unilaterally decides sanction policy for most of the world.

However, India, a top Iranian oil importer, announced it Will Not Heed U.S. Sanctions.

This leads to a potential two-part sanction avoidance mechanism.

Sanction Avoidance Part 1

India and or China refuse to honor the sanctions.

Iran accepts payment in Rupees and Yuan.

India and China convert Rupees and Yuan to Bitcoin, Ethereum, EOS, etc.

Iran is paid in cryptos.

Iran converts cryptos to dollars or Euros.

That is only half the puzzle.

Why?

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