Russian Shadow Payments via Cryptocurrency Reach $9 Billion

Russian entities have utilized cryptocurrency to conduct approximately $9 billion in transactions aimed at circumventing Western sanctions.

These digital assets have been employed to procure high-tech components, including parts for drones and other military equipment, through complex networks involving intermediaries and offshore accounts.

The use of cryptocurrencies like Tether has enabled Russian actors to bypass traditional financial systems, raising concerns among international regulators about the role of digital currencies in facilitating illicit trade and undermining global sanctions regimes.