Internet reports that Tether froze $27 million in USDT on the sanctioned Russian Garantex cryptocurrency exchange, forcing the platform to cease operations. On March 6, Garantex wrote on Telegram's official announcement channel: "Tether has joined the war with the Russian crypto market, blocking our wallets worth more than 2.5 billion rubles (US$27 million)." The exchange said it had suspended all services, including withdrawals, and its website was currently under maintenance. Not long after the EU imposed sanctions on Garantex on February 26 as part of the 16th round of sanctions against the "Russian War of Aggression in Ukraine."