Russia is considering adopting Bitcoin as a form of payment for oil and gas.1 min read
According to a politician, Russia is contemplating accepting Bitcoin as payment for its oil and gas exports. According to Pavel Zavalny, “friendly” countries might be permitted to pay in crypto or their own currencies. Sanctions implemented by the United Kingdom, the United States, and the European Union in response to the invasion of Ukraine have placed pressure on Russia’s rouble and risen its cost of living. The Ukrainian government has requested that crypto-currency platforms block all Russian users, but several companies have said no. “This certainly restricts the use of Bitcoin for payment.” “Clearly, embracing Bitcoin creates significantly more risk in the transaction of natural gas as compared to other traditional currencies,” Mr Broadstock added.