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Russia Will Use Cryptocurrency Against Sanctions

Russia Will Use Cryptocurrency Against Sanctions

It looks like a file Russia I found a way not to fall under the weight Penalties Enacted by Biden because of the conflict in Ukraine. This time the nation led by Vladimir Putin does not want to repeat the consequences its economy suffered in 2014. We all remember that the country was cut off from trade with the West. Actions taken in the wake of the Crimean invasion cost the Russian nation about $50 billion annually. The CryptocurrencyThe so-called digital rubles and ransomware will be the protagonists of Russia’s defense plans.

Russia will take advantage of technology Cryptocurrency And the digital economy to circumvent sanctions. A way to mitigate some of the worst effects already exists. The country can make deals with anyone in the world who wants to transact with them through cryptocurrencies. The goal is to use them for get down The controls that governments rely on to prevent bank fund transfers.

In other words, thanks for CryptocurrencyRussia believes in the possibility of ending the executions agreements Importance. Here is what former Attorney General Michael Parker, who now heads the anti-money laundering and sanctions division at the Washington law firm Ferrari & Co., said:

Russia has had a long time to reflect on this specific outcome. It would be naive to think that they did not realize this exact scenario.

With cryptocurrencies, Russia has many tools to evade sanctions

So, from what appeared, Russia, through CryptocurrencyIt has multiple tools to evade Penalties At his expense. To do this, according to experts, it is necessary to apply the only possible method, that is, to carry out trading without using dollar.

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for this reason Russia It is developing its own digital currency with the Central Bank of Russia. This way, through digital rubleYou will be able to trade directly with other countries without first converting them into dollars.

Also through attacks ransomwareRussia could steal cryptocurrencies to quickly make up for lost revenue due to sanctions. Through specific techniques, though transactions in Cryptocurrency Registered on the blockchain and therefore transparent on the surface, Russia will be able to hide the origin of these operations. This way any company can trade with Russian entities without being arrested. But who can make room for all this?

Russia appears to have a large list of partners willing to support it. Just think of all those countries that have been affected by their turn US sanctions Like, for example, Iran. They are also developing digital currencies for the country, not forgetting that China It is one of Russia’s largest trading partners, and Beijing is racing to develop the best of it digital yuan. Could it be a coincidence?