Breaking: Russia To Accept Bitcoin As Payment For Oil From “Allies”
Per a report from RBC, Russia will accept Bitcoin to trade their energy resource. 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. Related Reading | FinCEN Warns Russia Not To Use Cryptocurrency To […]
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The City Court of St. Petersburg in Russia made a judgement that legally acknowledged digital assets less than a week after the Russia’s Industry and Trade Minister Denis Manturov said that Russia would definitely legalize crypto as a means of payment. Russian Court Acknowledges Crypto As Form Of Payment Piron and Yevgeny Prigozhin were sentenced […]
Exxon Mobil, the largest oil producer in the world, is mining Bitcoin. Per a Bloomberg report, the company is running a pilot program to leverage BTC mining using an excess of natural gas from their oil wells and to prevent a process known as flaring. Related Reading | Breaking: Russia To Accept Bitcoin As Payment For […]
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 substitute alongside the ruble and the national currencies of partnering countries. A high-ranking parliamentarian has indicated that Moscow may take cryptocurrency for natural gas and other resources. 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. The energy-rich nation is now looking to....
In the article "Why The Bitcoin Price Drop Is Really Good News" I mentioned the upcoming issues on the horizon for the U. S. Dollar. Many nations are trading internationally without it now, and these "bilateral trade agreements" are on the rise. Growing global disinterest in the dollar will only increase the need for monetary alternatives that can be easily sent globally, like Bitcoin. Now, news is breaking out of Russia that they may be ready to end their time using the U. S. Dollar as Russia can move from the US Dollar much sooner than we thought. Also read: Russia Plans Bitcoin Ban by....
Russian rubles from 1995. Photo via LostBob Photos. It seems that Russia's ban on the usage of Bitcoin is working. As early as this time last month, Russia was actually in the top 3 when it came to ranking Bitcoin client download totals by country. It seemed that Russians were extremely interested in the digital currency, until certain members of the Russian government started to talk about Bitcoin in a negative manner. Russia is now in seventh place when it comes to Bitcoin downloads per week, which is a rather low spot for one of the largest countries in the world. China and the United....