Russia Could Use Cryptocurrency to Blunt the Force of U.S. Sanctions

 It appears that Russia has found a way not to fall under the weight of the sanctions Biden has enacted due to the conflict in Ukraine. This time the nation led by Vladimir Putin does not want to repeat the consequences suffered by its economy in 2014. We all remember that the country was cut off from trade with the West. The measures taken following the invasion of Crimea cost the Russian nation about $ 50 billion a year. Cryptocurrencies, the so-called Digital Ruble, and ransomware will be the protagonists of the Russian defense plans.

Russia will leverage cryptocurrency technology and the digital economy to circumvent sanctions. The method to mitigate some of the worst effects is already in place. The country could make deals with anyone in the world who is willing to deal with them through cryptocurrencies. The goal is to exploit them to circumvent the controls that governments rely on to block the transfer of money from banks.

In other words, thanks to cryptocurrencies, Russia is securing the possibility of concluding the executions of important deals. Here is what former Attorney General Michael Parker who now heads the anti-money laundering and sanctions section at Washington law firm Ferrari & Associates said about it: With cryptocurrencies, Russia has many tools to evade sanctions

So, from what has emerged, Russia, through cryptocurrencies, has multiple tools to evade the sanctions against it. To do this, according to experts, it is necessary to apply the only possible way, which is to trade without using the dollar.

This is why Russia is in the running to develop its own digital currency with the Russian Central Bank. In this way, through the Digital Ruble, it will be able to trade directly with other countries without first having to convert it into dollars. Furthermore, through ransomware attacks, Russia could steal digital currencies to quickly recover lost revenue due to sanctions. Through specific technologies, despite cryptocurrency transactions being recorded on the blockchain and therefore transparent on the surface, Russia will be able to hide the origin of these operations. This way any company could trade with Russian entities without being caught. But who could lend themselves to all this?

It seems that Russia has a large list of partners ready to support it. Just think of all those nations that have in turn been hit by US sanctions such as, for example, Iran. They too are developing state digital currencies, without forgetting that China is one of Russia's largest trading partners and Beijing is racing to develop its Digital Yuan to the fullest. Could it be a coincidence? Pension and Citizenship Income: INPS numbers.

In terms of geographical distribution, the south and the islands benefit most with 842,797 families (2,007,942 citizens). Instead, there are 210,771 (420,177 citizens) in the center and 293,104 (577,229 citizens) in the north . Later in the article, a table with the subdivision between the regions: leading the ranking is Campania (287,043 nuclei), followed by Sicily (249,311) and Lazio (140,124).

Another interesting datum among those that emerged relates to the composition of families that perceive RdC or PdC. The nuclei with only one component amounted to 594,531, while those with six or more components are 32,039.