Tether freezes $28 million USDT from the sanctioned Russian exchange Garantex

according to Cointelegraph, stablecoin operator Tether has frozen $27 million USDT on the Russian-sanctioned trading platform Garantex, forcing the platform to suspend operations.

Garantex announced on its official Telegram channel on March 6: "Tether has frozen wallets worth over 2.5 billion rubles (approximately $27 million)."

The exchange stated that it has temporarily suspended all services, including withdrawals, and its website is currently under maintenance.

Shortly after this news was released, the EU issued its 16th package of sanctions on February 26, sanctioning Garantex for "Russia's aggression against Ukraine."