| Title | Russia Considers Accepting Bitcoin for Oil and Gas | |
| Date | Monday March 28 2022, @10:03AM | |
| Author | janrinok | |
| Topic | ||
| from the risky dept. | ||
Russia considers accepting Bitcoin for oil and gas:
Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker.> Pavel Zavalny says "friendly" countries could be allowed to pay in the crypto-currency or in their local currencies.
Earlier this week, Russian President Vladimir Putin said that he wanted "unfriendly" countries to buy its gas with roubles.
The move is understood to be aimed at boosting the Russian currency, which has lost over 20% in value this year.
[...] However, Russia is still the world's biggest exporter of natural gas and the second largest supplier of oil.
Mr Zavalny, who heads Russia's State Duma committee on energy, said on Thursday that the country has been exploring alternative ways to receive payment for energy exports.
He said China and Turkey were among "friendly" countries which were "not involved in the sanctions pressure".
[...] Mr Putin's comments on making "unfriendly" countries pay in roubles drove the currency to a three-week high.
However, many existing gas contracts are agreed upon in euros and it is unclear if Russia can change them. The EU relies on Russia for 40% of its gas.
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printed from SoylentNews, Russia Considers Accepting Bitcoin for Oil and Gas on 2023-07-19 23:39:50