Russia may accept bitcoin for its gas exports, a high-ranking parliamentarian reveals.
Russia is moving away from the dollar and the euro as payment options for its energy exports, and bitcoin has been mentioned as a possible substitute alongside the ruble and the national currencies of partnering countries. A high-ranking parliamentarian has indicated that Moscow may take cryptocurrency for natural gas and other resources.The Russian Federation has been taking steps in response to unprecedented Western sanctions imposed over its invasion of Ukraine.
U.S. and European sanctions are hurting Russia’s economy and fiat currency. Some of the measures are targeting its access to the global financial market and foreign currency reserves. The ruble gained some lost ground following Putin’s announcement, while gas prices in Europe soared. “Gas is just the beginning, this will also affect other resources. If they want to buy, let them pay either in hard currency, for us that’s gold, or in currencies that are convenient for us, that’s the national currency,” the lawmaker said.
The set of currencies may vary and that’s normal practice. If there are bitcoins — we will trade in bitcoins.
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