Russia said that it’s ready to accept Bitcoin payments from its ‘friendly’ trade partners against oil and gas exports.
Some analysts believe that Russia is taking a risky bet considering Bitcoin is subject to high volatility.
After facing strong sanctions from the Western Countries over its invasion of Ukraine, Russia is now considering the option to accept payments in Bitcoin against the sale of its oil and gas. On Thursday, March 24, the chair of Russia’s Duma Committee on energy, Pavel Zavalny, said that “Friendly” countries like China and Turkey can pay either in their local currencies or even Bitcoin.
We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan. With Turkey, it will be lira and rubles. You can also trade bitcoins,
Amid Western sanctions, Russia has been cut from the global payments system SWIFT. On Thursday, Mr. Zavalny also said that the country is exploring alternative payments for its exports
