By Karuna Thapa
Kathmandu, March 27
Russia, which is subject to severe Western sanctions, is prepared to accept Bitcoin payments for the sale of its big oil and gas exports.
The Allies would be able to pay for oil and gas in cryptocurrency or their native currency,
according to Pavel Javalny, a senior Russian politician.
Non-aligned nations should pay for natural gas in Russian rubles, according to Russian President Vladimir Putin.
According to reports, Russia’s currency has been devalued by 20% this year. According to analysts, Putin has taken such a move to avoid further deflation.
Following Russia’s invasion of Ukraine, the United States, the United Kingdom, and the European Union imposed sanctions on the country, causing the Russian ruble to fall and prices to rise.
However, Russia remains the world’s largest natural gas exporter and the second-largest oil exporter.
Russia is considering alternate means to pay for petroleum exports, according to Javalny, who is also the head of the Russian parliament’s Duma’s energy committee. He claims that friendly nations such as China and Turkey are not pressing Russia to impose sanctions.
China has long been offered the opportunity to deal in Chinese yuan and Russian ruble instead of dollars, he claims. In the instance of Turkey, lira and rubles can also be traded. Furthermore, Bitcoin may be exchanged. (BBC)
