Selling Oil and Gas, Russia Will Accept Payments Through Bitcoin?
Russia is considering accepting payments via Bitcoin for oil and gas transactions with several ‘friendly’ countries, such as China and Turkey. With this proposal, the price of Bitcoin had increased by 4% over the last 24 hours, where the price was $44,000.
Bitcoin is one of the most used cryptocurrencies by many people. In fact, several countries have allowed all buying and selling transactions using the digital currency.
As a result, Russia was finally tired and wanted to join in using bitcoin as a legal payment method for exporting oil and gas in their country.
Russia Considers Bitcoin As Payment Instrument For Oil and Gas Exports
At a press conference, the chairman of the energy committee of the Russian Congress Pavel Zavalny said that his country openly accepts payment methods using cryptocurrencies.
However, this payment system can only be used for certain countries, namely China and Turkey.
Also Read: Official! Thailand Prohibits the Use of Crypto for All Types of Transactions
The main reason why Russia accepts payments for its oil and gas exports with bitcoin is because China and Turkey do not judge their military aggression against Ukraine. It is very different from other countries which openly boycott the action.
“When we talk about our ‘friendly’ countries, like China or Turkey, which don’t put pressure on us, then we have offered them temporarily to shift payments to national currencies, such as the ruble and the yuan,” Zavalny said.
“With Turkey, it could be the lira and the ruble. So there can be multiple currencies, and that is standard practice. If they want bitcoin, we will transact with bitcoin.” he continued.
In addition to China and Turkey, Vladimir Putin obliges to pay for gas and oil from his country using the ruble, as reported by Nasdaq.
Read also: Paying taxes in Florida can use Bitcoin, this is what the governor said!
Not long after, the price of Bitcoin suddenly rose after Pavel Zavalny made his statement. In the last 24 hours, the price of this digital currency created by Satoshi Nakamoto rose by 4%.
