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Russia to accept local currencies or Bitcoin for its oil, gas

Russia Ukraine WarRussia to accept local currencies or Bitcoin for its oil, gas

Moscow (Times Of Ocean)- A Russian official said Thursday that the country is considering accepting local currencies or Bitcoin as payment for its oil and gas exports.

Pavel Zavalny, chairman of the State Duma Committee on Energy, said Russia is willing to be more flexible with payment options when it comes to friendly countries such as Turkey and China.

“We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan. With Turkey, it will be lira and rubles,” he said. “You can also trade Bitcoins.”

“Friendly countries” can also purchase natural gas with gold, he added.

The minister commented on Moscow’s decision to require “unfriendly countries” to buy Russian oil and gas with rubles, saying that due to the sanctions, it is now impossible to sell natural gas in dollars or euros.

Russia’s war on Ukraine, which began on Feb. 24, has drawn international condemnation, led to financial sanctions against Moscow, and forced global companies to leave the country.

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