According to the latest news about cryptocurrencies, Russia may start selling energy for Bitcoin. Since the Russian invasion of Ukraine on February 24, the Western world has imposed a pack of crushing sanctions on the aggressor country. In the past month, the West has effectively frozen the country’s reserves of foreign currency and blocked Russian banks from the international payments system SWIFT.

In the interview with the state-controlled media outlet Russia Today, the head of the Russian Energy Committee Pavel Zavalny stated that the country is no longer interested in the energy payments in US dollars or Euros. According to Zavalny, these fiat currencies have turned into “candy wrappers”. Instead, the State Duma official has suggested that Russia may begin accepting Bitcoin for gas and other energy exports in necessary. Zavalny also stated that the country is open to selling energy for the national currencies of friendly states, like the Chinese Yuan or Turkish Lira, and gold.

Earlier this week, the country’s president Putin has declared that Russia will demand Western countries to pay in ruble for natural gas shipping. This led to a 30% increase in the gas price. Russian Energy Committee Chair has fully supported the president’s decision.

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