Russia is exploring ways to accept payment for its energy exports as it deals with sanctions for its attack on Ukraine
Russia is prepared to allow “friendly” countries to pay for its oil and gas in bitcoin or their national currencies as it explore ways to accept payment for its energy exports.
“We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan,” said Pavel Zavalny, who heads Russia’s State Duma committee on energy.
“With Turkey, it will be lira and rubles. You can also trade bitcoins,” he added, according to a report in the BBC.
Russia, the world’s biggest exporter of natural gas and the second largest supplier of oil, considers China and Turkey among “friendly” countries which are “not involved in the sanctions pressure”.
On Wednesday, Russian President Vladimir Putin said he wanted “unfriendly” countries to buy its gas with rubles in a move widely seen as an attempt at boosting the Russian currency, which has lost over 20% in value this year.
Sanctions imposed by the UK, US and the EU following its invasion of Ukraine have put a strain on Russia’s currency and led to higher cost of living.
Bitcoin was little changed in trading at about $44,000 on Friday.
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