Response to Venezuela's Adoption of USDT, Tether: Will Fully Comply with US Sanctions

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Venezuela Evades Sanctions Using USDT

Reports have emerged that in light of the United States' reinstatement of oil sanctions on Venezuela, the country's state-run oil company PDVSA is planning to increase its use of USDT as a payment method for its oil exports.

Reuters noted that PDVSA has been gradually shifting its oil sales to USDT since last year, with sources indicating that the return of oil sanctions is accelerating this transition as it can reduce the risk of sales revenue being frozen in foreign bank accounts.

However, USDT issuer Tether promptly responded to the matter, emphasizing full compliance with U.S. sanction-related matters.

Venezuela's Oil Industry Turns to USDT for Transactions to Avoid U.S. Sanctions

Tether: Full Compliance with U.S. Sanctions

A spokesperson for Tether told Cointelegraph:

Tether remains committed to preventing sanctioned entities listed by the Office of Foreign Assets Control (OFAC) from transacting with Tether, respects OFAC's list of sanctioned entities, and ensures that assets associated with sanctioned addresses are immediately frozen.