It is now problematic for Moscow to sell natural gas in dollars or euros due to sanctions, says chairman of Russia's State Duma Committee on Energy.

Russia's offensive in Ukraine, which began on February 24, has drawn international condemnation, led to financial sanctions on Moscow and spurred an exodus of global firms from Russia.
Russia's offensive in Ukraine, which began on February 24, has drawn international condemnation, led to financial sanctions on Moscow and spurred an exodus of global firms from Russia. (Reuters)

Russia is considering accepting local currencies or Bitcoin as payment for its oil and gas exports.

Pavel Zavalny, chairman of the State Duma Committee on Energy, said on Thursday that when it comes to “friendly countries” such as Türkiye and China, Russia is willing to be more flexible with payment options.

“We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan. With Türkiye, it will be lira and rubles,” he said. “You can also trade Bitcoins.”

READ MORE: Rouble strengthens after Putin announces gas currency switch from dollar

He added that "friendly countries" can also buy natural gas with gold.

Touching on Moscow’s decision to demand that "unfriendly countries" use rubles to buy Russian oil and gas, he said it is now problematic to sell natural gas in dollars or euros due to sanctions. 

NATO leaders on Thursday pushed to raise the cost for Russian President Vladimir Putin by bolstering weapons supplies to Kiev and strengthening the alliance's eastern flank.

"Vladimir Putin has already crossed the red line into barbarism," said British Prime Minister Boris Johnson.

"The harder our sanctions, the tougher our economic vice around the Putin regime, the more we can do to help the Ukrainians, I think the faster that this thing can be over," he said.

Russia's offensive in Ukraine, which began February 24, has drawn international condemnation, led to financial sanctions on Moscow and spurred an exodus of global firms from Russia. 

READ MORE: Qatar to help Germany cut reliance on Russian gas supplies

Source: AA