U.S. Deputy Treasury Secretary Wally Adeyemo said Tuesday that anyone who helps Russia circumvent financial sanctions will be held accountable.
Wally Adeyemo: We punish Russia’s helpers
The United States and its allies have punished Russia with severe economic and financial sanctions since the invasion of Ukraine. Legislators worry that Russians may still use cryptocurrencies to escape the restrictions.
According to the official, American authorities will identify and punish those who help oligarchs circumvent the sanctions. The official discussed the issue in a recent interview with CNBC.
It is essential that we make this very clear to crypto exchanges, financial institutions, people, or anyone else who may be able to help Russia exploit and avoid our sanctions,” he said.
Afterwards, he described cryptocurrencies as a potential method for circumventing economic sanctions imposed on Russia.
“We will try to locate you and will ensure that Russia will not be able to bypass the sanctions that we have imposed to hinder an illegal war in Ukraine,” he stated.
Hillary Clinton recently criticized the case.
She said that not all but some cryptocurrency exchanges were refusing to do business with Russia. She added that everyone should do whatever they can to isolate the Russian economy.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.