Russia is considering to selling its oil and gas for bitcoin

By SimonKyselica | | 26 Mar 2022

Russia wants to accept payments for gas in Bitcoin. On Thursday, Zavaľnyj said the Russia will be accepting Bitcoin as payment for gas and oil.

Russia wants to prevent themselves from sanctions, so they will be accepting Bitcoin as payment, due to Rubble dropped below one cent.

So Russia will offer more flexible ways to pay for gas and oil for friendly countries, such as china or Turkey. Russia is the biggest exporter of gas and oil, so it will be more advantageous for Russia to start accepting Bitcoin as payment.

"We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan," said Zavalny.

Russians citizens are buying Bitcoin

People in Russia are buying Bitcoins, this is pushing Bitcoin and transaction volume up.

But the European Union is pushing sanctions to the crypto exchanges in Russia. 

The energy chair also doubled down on President Vladimir Putin’s promise on Wednesday to require “unfriendly” countries to pay for gas in Russian rubles. Putin’s announcement sent European gas prices soaring over worries the move might aggravate an energy market already under pressure.  

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