Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. Russia announced a willingness to accept bitcoin in exchange for oil, but will countries actually pay in bitcoin or will they stick to gold? But as for the West, those countries will only be allowed to pay in Russian rubles or gold if they want to buy Russian energy. Per a report from RBC, Russia will settle for Bitcoin to commerce their power useful resource. Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. Programmer Laszlo Hanyecz spent 10,000 bitcoins on two pizzas. Community Response: Nothing more to add. According to a translated transcript , Zavalny said the West would either need to pay for oil using rubles or gold, while allies or neutral countries such . — BNO News (@BNONews) March 24, 2022. And of course, if Russia does go ahead and begin accepting bitcoin as payment, it would be massive for the cryptocurrency market. Russia accepts Bitcoin as a payment option to buy gas and oil Following the implementation of numerous sanctions by the US and Europe on Russia, Pavel Zavalny, Russian Chairman of the Congressional Energy Committee, announced that Russia is willing to accept Bitcoin payments for natural gas. One aspect that may set back Russia's plans to accept payments in Bitcoin is that its trade partner China has banned the use of cryptocurrency. This looks to be yet another step along the path of global de-dollarization. Russia will accept Bitcoin for oil and gas exports says its chief of energy Reshab Agarwal March 25, 2022 Bitcoin Crypto News Even though the Russia-Ukraine war has resulted in a lot of sanctions on Russia, they still have the upper hand in some ways. Also, for the more great info, join us on Telegram to receive free . He's the head of an energy committee the State Duma - Russia's version of Congress - has set up. Russia has expressed willingness to accept bitcoin as payment from friendly buyer countries for its oil and natural gas. That's right. Russia is open to accepting different currencies for its exports, beginning with natural gas, depending on the buyer's preferred method of payment, Zavalny said. 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. As the war between Russia and Ukraine continues and Western sanctions loom over the former, the country might accept Bitcoin for oil payments, according to some reports. "This clearly limits the potential for payment using Bitcoin," Broadstock said. Vladimir Putin recently told the world that… Russia has said it will accept bitcoin in payment for oil and gas from countries it deems "friendly' - Photo: Shutterstock. As the war between Russia and Ukraine continues and Western sanctions loom over the former, the country might accept Bitcoin for oil payments, according to some reports. Russia announced a willingness to accept bitcoin in exchange for oil, but will countries actually pay in bitcoin or will they stick to gold? Russia to Accept Bitcoin for Oil and Gas From 'Friendly' Countries ,Market News, be aware of the latest news of the market, stocks and company After Russia made the statement of accepting Bitcoin as a means of payment, there was a rise in Bitcoin of about 4%, which saw the price move up to $44,000. However, there are no clear talks on whether Russia would accept Bitcoin for trading oil and other exports. 25 March 2022 8:05am. Russia could turn to "friendly" countries to pay in the crypto-currency or in their local currencies. Indeed, since March 24, the market's total cap has risen from approx. The first recorded bitcoin purchase didn't happen until 2010. Russia announces it will accept Bitcoin for oil, natural gas, and other resources Pavel Zavalny announced a commitment to making settlements easier for friendly nations but harder for unfriendly nations. Big players don't play as we think. What might raise people's eyebrows is that Russia is offering bitcoin as a mode of payment to two countries that have so far shown hostility to Bitcoin. "I believe that it has value," Putin said at the time, referring to Bitcoin. News out of Russia indicates the country is open to accepting Bitcoin and other hard assets in exchange for oil and other commodity exports. Russia is considering accepting Bitcoin as a means of payment for its raw materials, such as gas or oil. According to a new report by the BBC, Zavalny, who is the Chairman of Russia's Energy Committee, says that nations that are considered "friendly" toward Russia can pay for oil and gas using their own currencies. But now whispers emerge that Russia will accept Bitcoin for payment as well. An anonymous reader quotes a report from the BBC: Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. So Russia kindly declined and said Rubles it shall be. (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. Russia to Accept Bitcoin as Payment for Oil and Gas. Russia's Energy Chief suggests Bitcoin as an energy payment alternative for friendly China and Turkey, and Ruble for the nations imposing sanctions. May 7, 2022 12:00PM EDT. Russia To Accept Bitcoin As Payment For Oil From "Allies". Not only are they open to taking the buying country's fiat currency, they are also open to taking gold and bitcoin. Indeed, America has blocked the Russian central bank from accessing its U.S. dollar reserves. Russian President Vladimir Putin says he wants "unfriendly" countries to buy its gas with roubles. Warning Sign #2: Rubles, Gold, and Bitcoin for Gas, Oil, and Other Commodities. Following the sanctions decreed by the West in the middle of the war in Ukraine, the Kremlin took the decision to no longer accept payments in euros or dollars from hostile countries. On Thursday, March 24, Pavel Zavalny, chairman of Russia's State Duma Committee for Energy, announced payment terms for countries looking to purchase oil and gas from Russia. This would be the best thing that could happen for Bitcoin and the whole crypto market IMO. According to a new report by the BBC, Zavalny, who is the Chairman of Russia's Energy Committee, says that nations that are considered "friendly" toward Russia can pay for oil and gas using their own currencies. Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. Pavel Zavalny, Chairman of the State Duma Committee on Energy, announced today that the country will let "ally" countries pay for their oil with their local currencies or in cryptocurrency. Canada says G20 cannot function with Russia at the table. . Russia could potentially convert energy reserves into hard assets that could be used outside the dollar system. On Thursday, March . In 2021, the oil and gas trade brought in $119 billion in revenue for the country, according to Reuters. Last Thursday, at a press conference in Moscow, he talked about the Russian government's plan to ditch U.S.-dollar payments for oil and gas exports. . Those countries would also be allowed to pay using local currencies. Possible Impact of Crypto Regulation on Russia's Oil and Gas Activities. Pavel Zavalny, Chairman of the State Duma Committee on Power, introduced at the moment that the nation will let "ally" nations pay for his or her oil with their native currencies or in . Russia's head of the energy committee has said the country is willing to accept bitcoin in exchange for oil and gas exports from countries like China and Turkey, as sweeping sanctions over its war . According to Pavel Zavalny, the chairman of congressional energy committee of Russia, the nation is open to accepting Bitcoin for its natural resources exports, such as oil and gas. Russia is currently considering accepting currencies other than USD for their natural resources, in light of sanctions against the country for their invasion of Ukraine. Watch how they act & learn HOW they play. Russia received $119 billion from oil and gas in 2021, according to Russia's finance ministry. "And that was with oil at much lower levels than today," noted Reyes. Per a report from RBC, Russia will accept Bitcoin to trade their energy resource. Faced with stiffening sanctions from Western countries over its invasion of Ukraine, Russia is considering accepting bitcoin as payment for its oil and gas exports. They are of no use to Russia. Taking things up a notch, Putin officially decreed that, as of April 1st, 2022, Russia will only accept rubles, gold, or bitcoin as payment for energy exports to "unfriendly" countries. " Russia is open to accepting bitcoin for its natural resources exports, the chairman of the country's Congressional energy committee, Pavel Zavalny, said in a press conference on Thursday." This comes at a time when Russia looks to demand that "unfriendly" countries pay for natural resources in hard currencies such as gold or in rubles. Russia May Accept Bitcoin for Gas Exports, Lawmaker Says. Russia's Duma committee on energy said that the ruble and bitcoin were considered as alternative ways to pay for Russia's energy exports. If this is true, Russia will accept BTC as a legal currency. Following the sanctions decreed by the West in the middle of the war in Ukraine, the . As Russia is enlisted as the eighth-largest oil reserve and the world's leading natural gas exporter, there were earlier speculations that . On Thursday, March 24, Pavel Zavalny, chairman of Russia's State Duma Committee for Energy, announced payment terms for countries looking to purchase oil and gas from Russia. Posted by BeauHD on Friday March 25, 2022 @08:02PM from the it-was-only-a-matter-of-time dept. The below is from . It is an extension of the Russian government's earlier statement to "unfriendly countries," (directed toward most European Union member states) saying that they should pay for their energy… It is an extension of the Russian government's earlier statement to . Bitcoin (BTC) could be one alternative Russia might accept as payment for oil and other resources, a Duma committee chairman said during a news conference Thursday. Russia may reportedly accept BTC for oil payments, according to a member of State Duma. Thanks in advance! Zavalny said that Russia is willing to be . Pavel Zavalny, who is the Chairman of the Energy Committee of the State Duma, said during a press conference: "If . At the time of this report, bitcoin was trading at N18.7 million, which is a 4 per cent increase for Friday, March 25, 2022, a report by CNBC said. That plan would see Russia boost its . Story continues. Russia is moving away from the dollar and the euro as payment options for its energy exports, and bitcoin has been mentioned as a possible . Russia is open to taking bitcoin payments… That's according to Pavel Zavalny. Follow Crypto Futurist and Subscribe for just $5/month to help me continue to provide valuable crypto-related news and education. Friendly countries — such as China and Turkey — can also trade using their national fiat currency.However, Western countries can pay in ruble and gold if they want to buy energy from Russia. "We have been proposing to . Putin has changed his tune on bitcoin. Russia, sanctioned because of its invasion of Ukraine, can sell gas to the West for rubles and gold, and to "friendly" countries such as China or Turkey for either national currency or bitcoins,. This week, Pavel Zavalny, the chairman of the State Duma Committee on Energy, stated that Russia will accept Bitcoin as payment for energy exports in the future. Those countries would also be allowed to pay using local currencies. Turkey has a partial ban on bitcoin, significantly it has forbidden its Mar 25, 2022 11:30PM EDT. The head of the Russian parliamentary committee on energy Pavel Zavalny on Thursday said that Russia is considering accepting bitcoin as payment along with fiat currencies as payment for its oil and gas exports. Russia being open to accepting bitcoin shift the tide as Putin last year had dismissed the possibility in an interview at the Russian Energy Week event in Moscow. They are of no use to Russia. Lark Davis: Will Russia turn to Bitcoin (BTC) to Evade Sanctions? 2 months ago in Bitcoin Per a report from RBC, Russia will accept Bitcoin to trade their energy resource. It is an extension of the Russian government's earlier statement to "unfriendly countries," (directed toward most European Union member states) saying that they should pay for their energy with rubles or gold. If #Russia starts accepting #Bitcoin for #Oil , Bitcoin can go parabolic once again pic.twitter.com/FrraZIkf3W— Blockchaindecentral (@cryptonews888) February 11, 2022 Russia is considering accepting local currencies or Bitcoin as payment for its oil and gas exports, an official said Thursday. Russia could allow "friendly" nations to pay bitcoin in exchange for oil and gas shipments — a proposal floated days after the Kremlin said countries that have imposed economic . The above post is embeded directly from the user's social media account and LatestLY . Russia reportedly considering accepting Bitcoin as payment for oil and gas exports for so-called friendly countries like China and Russia. Pavel Zavalny says . For instance, news of El Salvador making bitcoin legal tender sent the price of BTC from $33,500 to $40,000 . Pavel Zavalny, the chairman of the Russia's State Duma Committee on Energy, said during a videotaped press conference this week that the country would accept Bitcoin for its energy exports. "If Putin enforces his demand of accepting only rubles, gold or bitcoin for energy exports, the dollar instantly loses significant utility in the world . Russia will accept bitcoins for oil and gas, senior lawmaker says - RBC. Pavel Zavalniy, Chairman of the State Duma Committee on Energy, has suggested that Russia could accept Bitcoin as a means of payment for its oil and gas exports to escape American and European. Diversifying into Bitcoin and other currencies could help Russia lessen its dependence on dollars and euros issued by unfriendly states like the U.S. and the EU—and in the process skirt . If this implies that the EU may also pay in Bitcoin it will be huge since they are one of the main importers of Russian oil and gas. Pavel Zavalniy, Chairman of the State Duma Committee on Energy, has suggested that Russia could accept Bitcoin as a means of payment for its oil and gas exports in order to escape American and European sanctions. Now, we're seeing a member of the G20 - a club of the world's most powerful nations - talk about accepting bitcoin in exchange for valuable oil and gas exports. REUTERS. Bitcoin, apparently. In a news conference held last week, the head of Russia's State Duma committee on energy, Pavel Zavalny said that when it comes to "friendly" nations such as China or… Russian Official Mentions Bitcoin Among Alternative Settlement Methods for Its Gas The Russian Federation has been taking steps in response to unprecedented Western sanctions imposed over its invasion of Ukraine. As economic sanctions by Western countries pile up against Russia continues to take their toll, Moscow said it may start accepting crypto, especially Bitcoin as payment for oil and gas. According to Russia, regulating cryptocurrency would bring the industry out of the shadows. . The energy-rich nation is now looking to other currencies to replace the U.S. dollar and the euro in its gas trade. Pavel Zavalny says "friendly" countries could be allowed to pay in the. Russia Considers Accepting Bitcoin For Oil and Gas (bbc.com) 80. Russia will accept bitcoin as payment for its oil and natural gas from friendly countries, its head of the energy committee said Thursday. Back then, his bitcoins were worth $40. Russia may accept bitcoin as a form of payment for its energy exports of oil and gas, the head of the country's energy committee announced Thursday. According to a new report by the BBC, Zavalny, who is the Chairman of Russia's Energy Committee, says that nations that are considered "friendly" toward Russia can pay for oil and gas using their own currencies.. Zavalny adds that friendly nations such as China and . Following the invasion of Ukraine, sanctions implemented by the United Kingdom, the United States, and the European Union have put pressure on Russia's rouble and risen the living costs. Pavel Zavalny, deputy for the United Russia party in the 7th State Duma of the Russian Federation, was quoted saying that the country might accept Bitcoin for oil payments. $2.035 trillion to $2.245 trillion. Pavel Zavalny, chairman of the State Duma Committee on Energy, said on Thursday that when it comes to "friendly countries" such as Türkiye and China, Russia is willing to be more flexible with payment options. . Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. But as for the West, those countries will only be allowed to pay in Russian rubles or gold if they want to buy Russian energy. Published. Russia is considering accepting bitcoin (BTC) as payment for oil and gas from "friendly" countries, while it will keep requesting rouble payments for oil and gas exports to "unfriendly" countries (those that oppose its actions in Ukraine via economic . Bitcoin in Kyiv (2017) Russia May Accept Bitcoin for Oil. Russia reportedly considering accepting Bitcoin as payment for oil and gas exports for so-called friendly countries like China and Russia. Pavel Zavalny said in his statement that "friendly" countries might be allowed to pay in crypto-currency or their local currencies when acquiring oil and natural gas from the embattled nation. Russia may have to accept Bitcoin as payment for its oil and gas exports amid tough new sanctions. But there are reports going around that "non-friendly countries" will still have . Pavel Zavalny says "friendly" countries could be allowed to pay in the crypto-currency or in their local currencies. China banned cryptocurrency mining and trading from taking place in fall 2021. According to him, the West must pay for oil in rubles or gold, while friendly or neutral states, such as China and Turkey, can pay in rubles or their own national . That's why Russia is no longer accepting US dollars (or euros) in exchange for its energy. In 2021, the oil and gas trade brought in $119 billion in revenue for the country, according to Reuters. Russia is the world's largest exporter of natural gas, lumber, wheat, fertilizer, and palladium (a crucial component in cars). 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 . If #Russia starts accepting #Bitcoin for #Oil , Bitcoin can go parabolic once again pic.twitter.com/FrraZIkf3W— Blockchaindecentral (@cryptonews888) February 11, 2022 Erdogan said trade hit $5.3 billion last year, though Nur-Sultan's data put trade with Turkey, its fifth . The move is part of the country's bid to. A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. So instead . On Thursday, one of Russia's top leaders said the country is considering accepting Bitcoin as payment for its oil and gas exports. Pavel Zavalny, chairman of the State Duma Committee on Energy, said . A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. That will boost their goal of increasing trade to $10 billion in the coming years. In a recent move, Russia announced they are open to accepting all forms of payment outside of dollars for oil and gas. That's why Russia is no longer accepting US dollars (or euros) in exchange for its energy. Russia is the world's largest exporter of natural gas, lumber, wheat, fertilizer, and palladium (a crucial component in cars). . So instead . Earlier this week, Russian President Vladimir Putin said that he wanted "unfriendly" countries to buy . Russia is considering accepting Bitcoin as a means of payment for its raw materials, such as gas or oil. Pavel Zavalny, Chairman of the State Duma Committee on Energy, announced today that the country will let "ally" countries pay for their oil with their local currencies or in cryptocurrency. Energy is the single most important source of income for Russia. Bitcoin is now up about 3% . Friendly countries including China and Turkey, for example, will be allowed to make settlements with Russia in Bitcoin. On Thursday, March 24, Pavel Zavalny, chairman of Russia's State Duma Committee for Energy, announced payment terms for countries looking to purchase oil and gas from Russia. Pavel Zavalny, deputy for the United Russia party in the 7th State Duma of the Russian . Russia is considering accepting local currencies or Bitcoin as payment for its oil and gas exports. 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