Recently the Chairman of the Russian Energy Committee Pavel Zavalny stated the possibility of his party accepting oil and gas payments using the cryptocurrency Bitcoin (BTC).
The Chairman of the Russian Energy Committee, Pavel Zavalny, recently announced the potential for his party to accept oil and gas payments in the cryptocurrency Bitcoin (BTC). However, this BTC payment option is limited to allied nations, such as China and Turkey.
According to Cointelegraph, Zavalny stated that “friendly countries” could pay for energy in Russian Ruble, Chinese Yuan, Turkish Lira, or even Bitcoin, instead of the US dollar.
Meanwhile, Russian local media RBC reported that the statement was made by the Chairman of the State Duma Committee on Energy, Zavalny, during a press conference on March 24. He explained that his party, along with representatives from China and Turkey, had discussed altering currencies as a settlement option for energy exports.
“We have long proposed to China to switch to settlements in the national currency of the ruble and the yuan. With Turkey, it would be the lira and the ruble. Currency pools may differ, and this is normal practice. If there is Bitcoin, we will trade Bitcoin.”
This suggests that energy and gas purchases could be made using payment options besides fiat currency, namely BTC. Furthermore, Zavalny stated that “unfriendly countries” could pay for oil in rubles or gold.
However, it is still unclear whether Russia will change the terms for European and US countries that pay in euros and US dollars. This decision follows after a number of European countries and the US imposed financial sanctions on Russia, which was deemed to have invaded Ukraine.
On the other hand, Ukraine has opened crypto donations for the global community who want to help supply military, medical, and other equipment. Donations can be made using a number of cryptocurrencies including Bitcoin, Ethereum, USDT, Solana, Poladot, and Dogecoin. The crypto donation was reported to have crossed IDR 1.5 trillion in early March 2022.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language.
