The United States today announced the dismantling of a Russian-Venezuelan network that used Tether (USDT) to trade outside the traditional banking structure, thus avoiding international sanctions.
One of the most discussed geopolitical scenarios for cryptocurrencies is their ability to evade conventional financial restrictions imposed by global powers against their adversaries, but this workaround is becoming increasingly difficult to execute.
A few hours ago, the United States Department of Justice announced that it was filing charges against five Russian nationals and two Venezuelan nationals accused of maintaining a global network of money laundering, smuggling and trading with sanctioned companies, especially the Venezuelan state company. Petroleos de Venezuela, S.A. (PDVSA).
According to a Press releasethe U.S. Attorney’s Office for the Eastern District of New York filed 12 charges against Russian nationals Yury Orekhov, Svetlana Kuzurgasheva, Artem Uss, Timofey Telegin, Sergey Tulyakov, and Venezuelans Juan Fernando Serrano and Juan Carlos Soto.
According to the DOJ, Serrano and Soto facilitated the trade of hundreds of millions of barrels of oil which were then shipped to Russian and Chinese buyers through Orekhov and Uss. Orekhov and Kuzurgasheva, meanwhile, are accused of smuggling military technology to Russia in violation of US interests.
The document explains that the Russians used several intermediary companies to facilitate payments. In addition, they made several transfers of millions of dollars in cryptocurrencies to avoid sanctions.
According to sources cited by The blockOrekhov told an accomplice: “No worries, no stress. As soon as we start docking, we will transfer immediately. USDT works quickly like SMS.”
The case is under the responsibility of the Bureau’s National Security and Cybercrime Section. Assistant US Attorney Artie McConnell is in charge of the prosecution. The arrests and charges are the result of a joint effort between US, German and Italian law enforcement.
Russia, Venezuela and Ukraine: cryptocurrencies come into play
PDVSA was sanctioned under the Donald Trump administration with the country’s official cryptocurrency, Petro. Following the punishmentsthe United States has effectively eliminated the possibility for Venezuela to establish normal trade relations with any country in the world.
Under the sanctions, the United States has effectively prevented Venezuela from establishing normal commercial relations with most countries in the world since anyone who trades with the oil company risks not being able to maintain commercial relations with the northern power. American – as well as dealing with other physical problems. and monetary consequences.
This political decision generated losses for Venezuela of the order of 240 billion dollars, according to sources quoted by the Venezuelan media. Últimas Noticias.
Meanwhile, sanctions against Russia intensified after the invasion of Ukraine. The use of cryptocurrencies played an important role in this war, because Ukraine was able to receive nearly $100 millionallowing him to buy military equipment, including vests, thermal visors, food for the troops, communication devices and medicines.
Similarly, Russian militias have received cryptocurrency donations to support their cause, although in lesser quantities– and legislators around the world have have joined forces to prevent Russia from being able to use cryptocurrencies to its advantage in the same way Ukraine has done.