Home » Russia’s Rosneft May Allow Paying for Oil with Crypto

Russia’s Rosneft May Allow Paying for Oil with Crypto

The head of Russian oil producer Rosneft Igor Sechin does not exclude the possibility of paying for oil with cryptocurrencies in the future.
news - Russia's Rosneft May Allow Paying for Oil with Crypto

The head of Russian oil producer Rosneft Igor Sechin does not exclude the possibility of paying for oil with cryptocurrencies in the future.

Speaking at the St. Petersburg International Economic Forum (SPIEF), Sechin said: “The industry’s acceptance and awareness of digital assets is beginning to rise as Silicon Valley tech giants including Google, Amazon and Apple begin to explore the oil and gas sector.”

He also suggested that the stablecoin Facebook is currently developing could one day be used to purchase oil by the barrel, though noted that cryptocurrencies need to overcome some hurdles if they are to pique the interest of energy giants.

“Digitalization creates risks for maintaining commercial secrets and leads to the need to create new regulatory mechanisms, additional reservations. Today, technology companies do not have quality answers to these fundamental questions,” he explained. 

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As a reminder, earlier this year, Wozniak said that blockchain is a bubble which could have potential in the future. At the same time, he has admired the Bitcoin, calling the coin “the only digital gold”.

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