Russia Could Use Crypto to Bypass Sanctions

Published by
The Street

By Luc Olinga The U.S. and Europe have begun to impose financial sanctions on Moscow and its banks. Russia’s invasion of Ukraine prompted a barrage of financial sanctions aimed at isolating and punishing Moscow. President Joe Biden, for example, has limited exports to Russia and imposed sanctions on Russian banks and other state-owned enterprises. But neither the U.S. nor Europe has yet threatened to block Russia’s access to the SWIFT system, a consortium financial institutions worldwide use as a crucial communications line for global commerce. If Russia were ever excluded from SWIFT, many won…

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