Russia will look to crypto to bypass sanctions - but it won't get them far

IN recent days, prominent officials such as US Senator Elizabeth Warren have pointed to crypto as a lifeline in the face of sanctions.

Will Russia seek to evade sanctions via crypto assets? Undoubtably. Will that be sufficient for its government to overcome tightening financial restrictions, especially with ejection from SWIFT looming? Not by a long shot.

Any country that comes under heavy sanctions will get desperate. At these times, cash is king. Even with some notable exceptions from the sanctions list, Russia now faces this situation and will be looking for any avenue to secure liquidity and make international transactions. Sanctioned Russian oligarchs and their family members will desperately seek out ways to move funds.