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. He stated that the buyer's national fiat currency, as well as bitcoin, were taken into consideration. Russia reportedly considering accepting Bitcoin as payment for oil and gas exports for so-called friendly countries like China and Russia. 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 . That's right. 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. Pavel Zavalny, who heads Russia's State Duma committee on energy, says "friendly countries" could be allowed to pay in the crypto-currency or in their local currencies. 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 . According to Russia, regulating cryptocurrency would bring the industry out of the shadows. 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. 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. Lark Davis: Will Russia turn to Bitcoin (BTC) to Evade Sanctions? Russia may reportedly accept BTC for oil payments, according to a member of State Duma. Russia may have to accept Bitcoin as payment for its oil and gas exports amid tough new sanctions. Russia will accept bitcoins for oil and gas, senior lawmaker says - RBC. Bitcoin, apparently. Faced with sanctions from the West for the invasion of Ukraine, Russia is considering allowing "friendly" countries such as China and Turkey to make payment for its oil and gas exports in Bitcoin. Pavel Zavalny says "friendly" countries could be . Those countries would also be allowed to . In 2021, the oil and gas trade brought in $119 billion in revenue for the country, according to Reuters. March 25, 2022 12:13 pm +08. 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 may reportedly accept BTC for oil payments, according to a member of State Duma. 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 . 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. He, on the other hand, believes that cryptos will not help the US-Russia oil trade deal. On Thursday, one of Russia's top leaders said the country is considering accepting Bitcoin as payment for its oil and gas exports. In a recent interview, he stated that he is in favor of digital currency adoption. For instance, news of El Salvador making bitcoin legal tender sent the price of BTC from $33,500 to $40,000 . 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. Russia received $119 billion from oil and gas in 2021, according to Russia's finance ministry. Big players don't play as we think. If this is true, Russia will accept BTC as a legal currency. Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. Russia may accept bitcoin as payment for its oil and gas exports, according to the leader of the energy committee. 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. Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. 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. 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. If #Russia starts accepting #Bitcoin for #Oil , Bitcoin can go parabolic once again pic.twitter.com/FrraZIkf3W— Blockchaindecentral (@cryptonews888) February 11, 2022 Indeed, since March 24, the market's total cap has risen from approx. The news sent BTC to a 24-day high, whilst ETH . Russia is considering accepting bitcoin as payment for its oil and gas exports as Western countries tighten sanctions over its invasion of Ukraine. News out of Russia indicates the country is open to accepting Bitcoin and other hard assets in exchange for oil and other commodity exports. But now whispers emerge that Russia will accept Bitcoin for payment as well. 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 Accepts Bitcoin For Oil And Gas? So Russia kindly declined and said Rubles it shall be. Russia will accept Bitcoin for oil and gas exports. "We have been proposing to . Following the sanctions decreed by the West in the middle of the war in Ukraine, the . Mar 25, 2022 11:30PM EDT. The above post is embeded directly from the user's social media account and LatestLY . BBC News - Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker. 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. "And that was with oil at much lower levels than today," noted Reyes. Change YTD: 61.92% Brent crude, 64.55% WTI. Crypto.com Price Ticker. The first recorded bitcoin purchase didn't happen until 2010. El Salvador - which became the first country to make bitcoin legal tender in September — has lost $36 million in cryptocurrency as bitcoin plummeted over 50% from its all-time high on Thursday . On Thursday, March . The federal government of Russia and the central bank are now working on a draft ordinance, one that will define bitcoin as an"analog of . The chair of Russia's Duma Committee on energy stated that Russia is willing to be more flexible with payment options when dealing with "friendly" countries like China or Turkey. Russia is the world's third-biggest oil producer after the US and Saudi Arabia. They have been cut off from the SWIFT network, so this is the only option for them. Russia is considering accepting Bitcoin as a means of payment for its raw materials, such as gas or oil. But there are reports going around that "non-friendly countries" will still have . Bitcoin moved past its $45,000 price ceiling, after it was reported that the Russian government was considering accepting it as payment for energies. Those countries would also be allowed to pay using local currencies. The move is part of the country's bid to . 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. He said . Cryptocurrency news portal Cointelegraph on Friday (March 25) cited Russian . 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 . The below is from . Russia announced a willingness to accept bitcoin in exchange for oil, but will countries actually pay in bitcoin or will they stick to gold? Per a report from RBC, Russia will accept Bitcoin to trade their energy resource. Russian President Vladimir Putin says he wants "unfriendly" countries to buy its gas with roubles. Pavel Zavalny, chairman of the State Duma Committee on Energy, said . Information out of Russia signifies the nation is open to accepting Bitcoin and different laborious belongings in alternate for oil and different commodity exports. REUTERS. Russia might accept bitcoin as payment for its oil and gas exports as Western countries stiffen sanctions. Published. Russia May Accept Bitcoin for Gas Exports, Lawmaker Says. But do note that this option will only be available to China, Turkey, and some other friendly . 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. 25 March 2022 8:05am. Russia has said it will accept bitcoin in payment for oil and gas from countries it deems "friendly' - Photo: Shutterstock. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. — BNO News (@BNONews) March 24, 2022. 0 4,633 2 minutes read. Indeed, America has blocked the Russian central bank from accessing its U.S. dollar reserves. 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. He said that crypto could be used to purchase commodities, rather than the international standard currency . 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. Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. That plan would see Russia boost its . This would be the best thing that could happen for Bitcoin and the whole crypto market IMO. The Chief of energy of Russia has talked about the possibility of the nation accepting Bitcoin as a payment medium. Earlier this week, Russian President Vladimir Putin said that he … In a videotaped news conference on Thursday, the chair of Russia's Duma committee on . 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. Back then, his bitcoins were worth $40. It is . "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. The Russian Federation's energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from "friendly countries" such as China and Turkey. 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 . And of course, if Russia does go ahead and begin accepting bitcoin as payment, it would be massive for the cryptocurrency market. That's right. Tetra Images - Dan Bannister. Price: $124 a barrel Brent crude, $126.50 a barrel WTI crude. A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. 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. 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. Those countries would also be allowed to pay using local currencies. Also, for the more great info, join us on Telegram to receive free . The first recorded bitcoin purchase didn't happen until 2010. Russia, sanctioned because of . Published. Pavel Zavalny, deputy for the United Russia party in the 7th State Duma of the Russian . Following the sanctions decreed by the West in the middle of the war in Ukraine, the . Russia reportedly considering accepting Bitcoin as payment for oil and gas exports for so-called friendly countries like China and Russia. 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 . 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. Earlier this week, Russian President . 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 . $2.035 trillion to $2.245 trillion. In a news conference on Thursday, the chair of state's Duma committee on energy, Pavel Zavalny, said Russia was willing to be more flexible . 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. Credit: Rumble. 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 . - A + A. KUALA LUMPUR (March 25): The Russian Federation's energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from "friendly countries" such as China and Turkey. Zavalny said that Russia is willing to be . Russia is considering accepting local currencies or Bitcoin as payment for its oil and gas exports, an official said Thursday. 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. theedgemarkets.com. Pavel Zavalny, deputy for the United Russia party in the 7th State Duma of the Russian . Russian media are suggesting that there have already been meetings in Russia discussing EU plans to get rid of Russian energy dependence. Russia's Duma committee on energy said that the ruble and bitcoin were considered as alternative ways to pay for Russia's energy exports. Programmer Laszlo Hanyecz spent 10,000 bitcoins on two pizzas. Community Response: Nothing more to add. Pavel Zavalny announced a commitment to making settlements easier for friendly nations but harder for unfriendly nations. Possible Impact of Crypto Regulation on Russia's Oil and Gas Activities. Russia to Accept Bitcoin as Payment for Oil and Gas. REUTERS. The under is from a latest version of the Deep Dive, Bitcoin Journal's premium markets e-newsletter. Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker, RBC reports. 5 BTC + 300 Free Spins for new players & 15 . r/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. Russia announces it will accept Bitcoin for oil, natural gas, and other resources. 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. Russia, sanctioned because of its invasion of . However, Russia is still the world's biggest exporter of natural gas and the second largest supplier of oil. 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… "I believe that it has value," Putin said at the time, referring to Bitcoin. As Russia is enlisted as the eighth-largest oil reserve and the world's leading natural gas exporter, there were earlier speculations that . Watch how they act & learn HOW they play. A high-ranking Russian official says that the nation is considering accepting Bitcoin (BTC) as payment for its fuel exports. | Florida And New Hampshire Want Bitcoin. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Western countries still . Russia reportedly considering accepting Bitcoin as payment for oil and gas exports for so-called friendly countries like China and Russia. Russia could turn to "friendly" countries to pay in the crypto-currency or in their local currencies. . Russia accepts Bitcoin as a payment option to buy gas and oil. Duration: 24:21s 29 Mar 2022 0 shares 1 views Facebook Twitter LinkedIn Reddit Pinterest WhatsApp Email. 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 . Russia is considering accepting local currencies or Bitcoin as payment for its oil and gas exports. (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. Pavel Zavalny says "friendly" countries could be allowed to pay in the crypto . 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 . ( MENAFN - BreezyScroll) Bitcoin. 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. Pavel Zavalny says "friendly" countries could be allowed to pay in the crypto-currency or in their local currencies. Pavel Zavalny, The Russian Federation's energy chief has stated that his country could possibly be open to accepting Bitcoin as a form of payment for oil and gas from what he deemed as 'friendly countries' such as China and Turkey. 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… 2/9/2022 5:54:31 AM. Russian President Vladimir Putin has stated that cryptocurrencies are a valid form of payment in Russia. Programmer Laszlo Hanyecz spent 10,000 bitcoins on two pizzas. Per a report from RBC, Russia will accept Bitcoin to trade their energy resource. In a filmed news conference, Pavel Zavalny said that payment methods for countries like China and Turkey are being studied. Friendly countries including China and Turkey, for example, will be allowed to make settlements with Russia in Bitcoin. 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. However, there are no clear talks on whether Russia would accept Bitcoin for trading oil and other exports. 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. As such, it is more resistant to wild inflation and . May 7, 2022 12:00PM EDT. 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. 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. Back then, his bitcoins were worth $40. In those meetings questions were raised like what will happen if Western countries will be able to completely abandon the import of energy . It is an extension of the Russian government's earlier statement to . Russia will accept bitcoin as payment for its oil and natural gas from friendly countries, its head of the energy committee said Thursday. 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