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Russia eyes sanctions workarounds in energy, gold, crypto

KVIA

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The harsh sanctions imposed on Russia and the resulting crash of the ruble have the Kremlin scrambling to keep the country’s economy running. For Russian President Vladimir Putin, that means finding workarounds to the economic blockade even as his forces continue to invade Ukraine. Former Treasury Department officials and sanctions experts expect Russia to try to maneuver around the financial penalties by relying on energy sales and turning to the country’s reserves in gold and Chinese currency. Putin also is expected to move funds through smaller banks and the accounts of elite families, deal in cryptocurrency and rely on Russia’s relationship with China.

Article Topic Follows: AP National Business

Associated Press

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