The Russian Federation’s energy principal Pavel Zavalny has actually floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China and Turkey.He stated those countries might begin spending for power in Russian Rubles, Chinese Yuan, Turkish Lira– or even Bitcoin (BTC)– rather than the international standard US dollar.

According to Russian information media RBC, Chairman of the State Duma Committee on Power Zavalny mentioned at a Mar. 24 press conference that he as well as agents from China and also Turkey have been reviewing adjustments to favored settlement currencies for its biggest export.

“We have actually been proposing to China for a long time to change to settlements in nationwide currencies of rubles and yuan. With Turkey, it will be lira and also rubles. The collection of currencies can be different, and this is regular practice. If there are Bitcoins, we will trade Bitcoins.”

He further stated that “unfriendly nations” can spend for their oil in Rubles or gold. It is not clear whether Russia can alter the terms of existing contracts with countries that pay in Euros or USD.