Russian Official Labels Cryptocurrencies as ‘Sanctions Evasion Tool’

Sanctions will not entirely block Russians’ access to the cryptocurrency market, stated Deputy Anton Gorelkin.

He made these remarks in response to the blocking of wallets of the Russian exchange Garantex by Tether. The latter added 89 addresses to its sanctions list.

According to Gorelkin, digital assets will continue to be used as a tool to circumvent restrictions, “although USDT can be safely crossed off this list.”

The deputy also noted that “Western pressure on the cryptocurrency infrastructure is likely to continue.”

In February, the EU included Garantex in its 16th package of sanctions against Russia for aiding in the circumvention of restrictions.