The Russian Federation actively uses Tether cryptocurrency to bypass Western sanctions during the purchase of dual -use goods abroad, reports The Wall Street Journal.
The ruble is converted to Tether, and the field intermediaries transfer it to local currency and pay suppliers. In particular, this scheme works with purchases from China and the Middle East.
The monthly volume of such shadow trade is estimated at $ 10 billion.
The US Ministry of Finance confirms that Moscow is increasingly using cryptocurrency to bypass sanctions, and asks Congress to pass a law that will allow Washington to block operations with stable coins tied to the US dollar such as Tether.
Tether Holdings in December last year stated that it began to voluntarily freeze the digital wallets used by sub -organizations. However, intermediaries use several gaskets to confuse transactions.
