Russia Proposes Bitcoin Payments for Oil and Gas Exports

Bitcoin Payments for Oil and Gas Exports

Russian Chairman of the State Duma Committee on Energy, Pavel Zavalny, says that the country will accept Bitcoin for oil and gas payments from countries considered friendly.

Zavalny notes that countries like China, Turkey, and China may use the Russian ruble, yuan, lira, or Bitcoin in place of the US dollar.

The energy chief adds that the western countries can pay for the commodity with rubles and gold, while those considered friendly can use national currency or BTC.

The Duma member says that discussion with China and Turkey on the change of currency for its major export has been ongoing for a long time.

The announcement resonates with the remarks by the BlackRock CEO, Larry Fink, who said that the current political turmoil was likely to spur the adoption of cryptos.

Bitcoin is on an upwards momentum, trading around $44k, up 3% in the past day and an 8% increase in the past week.

Source: Cointelegraph

Leave a Reply

Your email address will not be published.

Related Posts