Russia is considering accepting ruble or Turkish lira as payment for its oil and gas exports, an official said Thursday.
Russian lawmaker Pavel Zavalny, head of the energy committee at the Duma, said that when it comes to "friendly countries" such as Turkey and China, Russia is willing to be more flexible with payment options.
He said that Moscow is open to accepting different currencies for its exports, beginning with natural gas, depending on the buyer’s preferred method of payment.
“With Turkey, it can be lira and rubles. So, there can be a variety of currencies, and that’s a standard practice. If they want bitcoin, we will trade in bitcoin.”
"We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan,” Zavalny added.
He also said that "friendly countries" can buy natural gas with gold.
Zavalny’s statements come upon Russian President Vladimir Putin’s comments on Wednesday demanding that "unfriendly" countries pay for Russian gas in rubles. Zavalny said it is now problematic to sell natural gas in dollars or euros due to sanctions.
Russia's war on Ukraine, which began Feb. 24, has drawn international condemnation, led to financial sanctions on Moscow and spurred an exodus of global firms from Russia.
The latest moves to conduct the trade in national currencies are part of the steps being taken to shore up the rapidly declining ruble.
During Russian Energy Week last year, Putin said that while he believed bitcoin has value, "I don't believe it can be used in the oil trade."
