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EU Targets Crypto Asset Providers Accused of Aiding Russia in Warfare Against Ukraine
26.6.2024
The most recent European Union sanctions against the Kremlin prohibit Eurozone operators from engaging with crypto asset providers that facilitate transactions supporting Russia’s defence-industrial base. Additionally, the new sanctions regime forbids Eurozone operators from utilizing...
US Treasury Expands Sanctions to Cripple Russian War Economy
14.6.2024
The U.S. Treasury Department announced Wednesday that over 300 new sanctions have been issued to intensify pressure on Russia for its ongoing war against Ukraine. These measures, in alignment with G7 commitments, target entities and individuals globally to cripple Russia’s military-industrial base...
US Lawmakers Urge Treasury Action on Russian Crypto Exchange Sanctions Evasion
16.5.2024
U.S. Congressman Gabe Amo (D-RI), along with Congressmen Brad Sherman (D-CA) and Gerald E. Connolly (D-VA), sent a letter to U.S. Treasury Secretary Janet Yellen regarding the Moscow-based cryptocurrency exchange Garantex. They expressed concerns that Garantex is reportedly facilitating sanctions...
UK, US Probe $20B in USDT Transfers by Sanctioned Russian Crypto Exchange
29.3.2024
The U.K. and the U.S. are reviewing tether transactions, valued at $20 billion, processed by the sanctioned cryptocurrency exchange Garantex. Digital currency transactions and crude oil sales are believed to be a significant source of foreign currency for Russia. Russia Sanctions Busting The U.K....
Russia Open to the Use of Crypto in Foreign Trade Says Central Bank Governor
1.2.2024
The Russian Central Bank is discussing the possible use of central bank digital currencies as a payment method in foreign trade, according to Elvira Nabiullina, the bank’s governor. Nabiullina stated that while Russia is opposed to the use of crypto payments in domestic transactions, the country...
US Sanctions on Russia Similar to Planting a ‘Bomb Under the Dollar,’ Says Russian Analyst
30.1.2024
The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy...
US Senator Marco Rubio Warns BRICS Expansion Threatens Western Sanctions’ Effectiveness
23.1.2024
Florida Senator Marco Rubio expressed his worries about the increasing influence of BRICS, the international group, in the world’s economic system. According to Rubio, if the group keeps expanding, it will be a valid alternative to the current system, allowing nations to sway away from...
New EU Sanctions Package Preclude Russians From Owning Crypto Companies
21.12.2023
The European Union said Russian nationals from owning or controlling crypto service providers under the bloc’s twelfth package of restrictive measures against the country. According to the EU, diamonds entering its will now have to be traced from “the mine to the finger” and this...
Advisors May Drive Bitcoin ETF Flows in USA + More News
18.12.2023
Source: AdobeStock / Backcountry Media Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Advisors May Drive Bitcoin ETF Flows, Says Needham US OFAC Fines Crypto Exchange $1.2M for Russia...
Here’s How Russians Dodge Sanctions to Use Int’l Crypto Exchanges
16.11.2023
Russian crypto holders have reportedly used simple workarounds to evade sanctions – and trade on overseas crypto exchanges. In the wake of the war in Ukraine, Western leaders have imposed sanctions on most leading Russian banks. Account holders at these banks, thus, are effectively blocked from...
Web3 Protocol WalletConnect Halts Services in Russia, Following US Treasury Guidelines
1.11.2023
Web3 platform WalletConnect, which links cryptocurrency wallets, has restricted its services in Russia, in light of the latest US Guidelines. The US Treasury’s Office of Foreign Assets Control (OFAC) unveiled sanctions in Russia and a few parts of Ukraine. The restrictions came into effect...
OKX and ByBit remove sanctioned Russian banks from payments list
28.8.2023
Tinkoff Bank and Sberbank are no longer available on the list of P2P transactions on ByBit and OKX
Binance P2P removes sanctioned Russian banks from payments list
25.8.2023
The crypto exchange removed its “yellow” and “green” codewords from its list of payment methods, which previously referred to sanctioned Russian banks
Russian Ruble Plunges to 16-Month Low vs the US Dollar — Experts Cite Oil Price Cap
15.8.2023
The Russian currency’s exchange rate versus the U.S. dollar recently dropped below RUB100 per greenback — its lowest in 16 months. Economists attribute the ruble’s latest plunge to the effectiveness of a price cap imposed on Russian oil by Western countries. Russ Mould said...
Mbridge Project Has Observers Worried About Advances of the Digital Yuan
15.8.2023
The Mbridge project, a central bank digital currency (CBDC) international payment system, is starting to worry observers. Such a system, when completed, could ostensibly allow the digital yuan to reach more countries in trade settlements, chipping away at the world dominance of the U.S. dollar...
Eritrean President Isaias Afwerki: ‘We Need a New Financial Architecture Not Controlled by the Dollar or the Euro’
31.7.2023
Isaias Afwerki, president of Eritrea, reinforced the need for building a new economic system away from the traditional centers of power. At the second Russia-Africa Summit, Afwerki told Russian President Vladimir Putin that the current world order, on top of dollar hegemony, was printing money...
Deeper Ties With BRICS Should Not Jeopardize Relations With the West — South African Business Association Leader
26.7.2023
South Africa’s economic well-being is dependent on trade relations with the West, and therefore attempts to bolster relationships with BRICS must not be at the expense of ties to the West, the leader of a South African business association has said. The leader also singled out the African...
Russian Ruble Falls by Over 18% in 2023, Economist Says the Currency Has ‘Stabilized’
25.7.2023
After the Russian currency touched a year low versus the greenback of nearly 92 units for every dollar, economist Robin Brooks said the ruble has stabilized and may eventually be lifted by rising oil prices. The Institute of International Finance Economist urged G7 countries to consider cutting...
Putin Warns of Increased Financial Crisis Risk — Says Russia Is Being Subjected to Hybrid War
7.7.2023
Russia’s President Vladimir Putin has warned of increased “risks of a new global economic and financial crisis against the backdrop of an uncontrolled debt accumulation by developed countries.” He added that Russia is “being subjected to a hybrid war, with illegitimate anti-Russian sanctions that...
North Korean Analyst Warns of Accelerating End to Dollar Dominance — Says BRICS Poses Challenge to US Hegemony
27.6.2023
A North Korean analyst has cautioned that the actions taken by the U.S. to restrict the usage of the dollar and the growing interest of countries to join the BRICS bloc are “accelerating” the decline of the USD as the world’s dominant currency. North Korean State Media...