Russia mulls exporting oil, gas for Bitcoin

Bitcoin

Russia is considering accepting Bitcoin as payment for its oil and gas exports, amid the sanctions imposed on the country as a result of invading Ukraine.

Pavel Zavalny, Chairman of the State Duma Committee of Energy, said Russia will be more flexible with "friendly" countries such as China, CNBC reported.

He added that Russia could be allowed to pay in the crypto-currency or in their local currencies.

"We have been proposing to China for a long time to switch to settlements in national currencies for roubles and yuan," said Zavalny.

Earlier this week, Russian President Vladimir Putin said he wanted "unfriendly" countries to buy its gas with roubles.