It was rumoured last October that Russia’s former head of energy Igor Yusufov, now at Energia was looking at launching an Oil backed token. This continues the trend of businesses and countries issuing Digital Assets as a way around US sanctions and lessen their reliance on US Petro-Dollars. We have in the last few months seen the Russians, the Iranian’s PayMon, the Venezuelan Petro, and even the more US friendly Saudi/UAE all citing one of the reasons for launching their own Digital Asset is to reduce their dependency on the US$.
If this trend gathers momentum it could impact on the US$ as the world reserve currency, but meanwhile governments and global corporations are becoming more actively involved in Blockchain enabled Digital Assets.
