Cryptocurrencies

Lagarde Says Crypto Being Used to Evade Russian Sanctions

Industry experts not seeing Russians use crypto to dodge curbs
ECB’s Panetta warns crypto may be ‘major’ sanctions loophole

Christine Lagarde
Photographer: Andreas Arnold/Bloomberg

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By Carolynn Look

March 22, 2022 at 3:41 PM UTC

Updated on

March 22, 2022 at 4:34 PM UTC

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European Central Bank President Christine Lagarde said there are signs that some Russians are attempting to bypass sanctions over the war in Ukraine by converting rubles into cryptocurrencies and stablecoins.