Russia could accept bitcoin for oil and gas from “friendly” countries

Russia could accept bitcoin for oil and gas from “friendly” countries

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Countries considered “friendly” to Russia may be able to pay for oil and gas in bitcoin as pressure from western sanctions continues to ramp up.

“Friendly” countries such as China or Turkey could be allowed to use the digital currency, according to a report by CNBC, which received the information from a videotaped news conference.

At the news conference, Pavel Zavalny, chair of Russia’s Duma committee, a chamber of the Russian parliament, said the country is willing to be more flexible about payment options for “friendly” countries. In translated remarks, he said options could include the national fiat currency – the yuan or the lira in China or Turkey’s case, or bitcoins could be considered as an alternative, he said.

Vladimir Putin announced on Wednesday that he would seek to make “unfriendly” countries pay for Russian gas in roubles, a move which, if successful, could shore up the country’s currency after it fell to record lows after the invasion of neighbouring Ukraine.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

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