- Wally Adeyemo, the Nigerian US Deputy Treasury Secretary, issued a stern warning to countries, entities or individuals helping Russia to bypass sanctions
- Adeyemo said the US would locate and deal with them irrespective of where and how they are able to provide aid to Russia
- The G-7 countries have pledged to ensure that Russia gets maximum punishment for the unprovoked attack on Ukraine
The US has vowed that countries aiding and abetting Russia to evade a barrage of economic sanctions inflicted on it by Western countries led the by the US in the ongoing unprovoked attack on Ukraine will not go unpunished, according to Wally Adeyemo, US Deputy Treasury Secretary.
Since it invaded Ukraine last month, the US and its international partners have imposed a flurry of punishing measures against the Kremlin.
The war provoked a humanitarian crisis and sent shocks across the global financial markets and have left Russia isolated on the global stage.
Dodgy organisations to the rescue?
According to the Nigerian-American, the US have no evidence yet that Russia has successfully evaded its sanctions but that there is an attempt to do so and that the US knows what it will do, Adeyemo told CNBC.
Do you have a groundbreaking story you would like us to publish? Please reach us through email@example.com!
Adeyemo stated that cryptos and dodgy shell companies as possible ways Russia can use to circumvent economic punishment.
According to him, the US will hold any entity or organisation or individuals using digital currency exchanges to help Russia evade its sanctions.
He said the US will come for them and will ensure that Russia does not escape the punishment of invading Ukraine.
Crypto worries as back channels
This is coming a few days after the G-7 of major economies are promising to ensure that Russia and its elites, reps, and oligarchs do take leverage digital assets to evade the effects of the sanctions.
Russian Invasion: Ukraine president makes stunning revelation, says country will not join NATO anytime soon
The G-7 group comprises the UK., US, Canada, Japan, Germany, France and Italy.
In another report by the BBC, cryptos have been beneficial in helping Ukraine defend itself against Putin’s onslaught, with governments of various countries raising funds through cryptos to help Ukraine.
Russia’s desire to accept bitcoin for oil and gas drives price above N18m
Legit.ng has reported that as economic sanctions by Western countries pile up against Russia continues to take their toll, Moscow said it may start accepting crypto, especially Bitcoin as payment for oil and gas.
At the time of this report, bitcoin was trading at N18.7 million, which is a 4 per cent increase for Friday, March 25, 2022, a report by CNBC said.
The Chairperson of Russia’s energy committee said that the country is ready to apply flexibility with terms of payment for friendly countries like China and Turkey.