Russian Finance Ministry Rules Out Sale of Oil for Bitcoin | Jun 20, 2022 at 1:30 PM
  • The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated.
  • The clarification was made by the head of the finance ministry’s Financial Policy Department, Ivan Chebeskov.
  • Recognizing cryptocurrency as property in Russia’s Civil Code and amending an article on barter exchanges in the legislation governing foreign economic activities of Russian entities are also necessary to fully open the door for this type of deal, the report details.