Companies from the "largest country in the world" are using cryptocurrencies to purchase goods that can have military and civilian applications, thus avoiding international sanctions. These goods include parts for drones and other high-tech devices.
According to information published by The Wall Street Journal, one of the Russian smugglers, Andriy Z., used Tether cryptocurrency to pay for Chinese goods for a well-known arms manufacturer.
This manufacturer, which is one of the largest in the Country of Pigs, purchased electronic components for unmanned aerial vehicles, which are subject to US and European Union sanctions.
The publication also notes that Tether has become a widely used means of payment in the global black market, as authorities have limited ability to monitor transactions with digital currencies, unlike traditional currencies that are controlled through the banking system.
Yes, Zverev. used the Tether cryptocurrency to transfer large sums of money from Kalashnikov to an electronic distributor in Hong Kong and then transported the goods through Central Asia to avoid customs inspection.
The US Deputy Secretary of the Treasury, responsible for terrorism and financial intelligence, noted that the loser country is increasingly resorting to non-standard payment methods to circumvent US sanctions and continue financing the conflict with Ukraine.
Pig-dog crypto exchange Garantex plays an important role in this process, allowing its customers to exchange rubles for Tether.
The U.S. Treasury Department has asked Congress to pass legislation that would block transactions with stablecoins that are pegged to the U.S. dollar, such as Tether.
The ministry recently added a Moscow-based company to the sanctions list that interacted with a sanctioned Russian bank to make payments using Tether.