Russia Intends to Use Cryptocurrencies to Circumvent Sanctions

Pavel Zavalny, head of the Russian State Duma Committee on Energy, said that countries can buy gas for Russian rubles or even cryptocurrencies, including Bitcoins.

“Gas is just the beginning, it will affect other resources as well. If they want to buy, let them pay either in hard currency or in national currency. As for friendly countries such as China and Turkey, we have long been suggesting that they switch to settlements in our national currencies. If there will be Bitcoins, we will trade in them,” Zavalny said.

This statement followed the message of the Ministry of Economic Development of the Russian Federation on the approval of the draft law of the Ministry of Finance “On digital currency”. But the agency proposed to add to the bill the concept of mining, the procedure for paying for digital currency, as well as separate requirements for persons who are digital currency exchange operators and operators of digital trading platforms.

Zavalny is not the only one who is sure that the EU countries or any other countries will buy energy resources from Russia for rubles or cryptocurrencies. Earlier, Russian President Vladimir Putin ordered the sale of Russian gas to “unfriendly countries” for rubles, referring to countries that have imposed sanctions against the Russian Federation because of its invasion of Ukraine.

However, the head of the Polish state oil and gas company PGNiG, Pavel Maevsky, said that the agreement with Gazprom does not provide for the possibility of changing the type of the currency for settlements.

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