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.
Russian Official Mentions Bitcoin Among Alternative Settlement Methods for Its Gas
The Russian Federation has been taking steps in response to unprecedented Western sanctions imposed over its invasion of Ukraine. The energy-rich nation is now looking to other currencies to replace the U.S. dollar and the euro in its gas trade.
On Wednesday, President Vladimir Putin announced that Russia will ask “unfriendly” nations to pay with rubles for the natural gas they buy. EU member states, many of which are heavily reliant on Russian gas supplies for heating and power generation, fall in that category.
U.S. and European sanctions are hurting Russia’s ec
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