According to a high-ranking politician, Russia is contemplating accepting Bitcoin as payment for its oil and gas exports. According to Pavel Zavalny, “friendly” countries may be permitted to pay in cryptocurrency or local currency.
Earlier this week, Russian President Vladimir Putin stated that he would want “unfriendly” countries to purchase Russian gas in roubles. The action is said to be intended to strengthen the Russian ruble, which has lost more than 20% of its value this year.
Sanctions implemented by the United Kingdom, the United States, and the European Union in response to the invasion of Ukraine have placed pressure on the country’s ruble and risen its cost of living. However, it remains the world’s largest natural gas exporter and the world’s second-largest supplier of oil.
Mr Zavalny, the chairman of the State Duma’s energy committee, stated on Thursday that the country is looking into other ways to obtain payment for energy exports. He mentioned China and Turkey as “friendly” countries that were “not participating in the sanctions pressure.”
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