Russia considers accepting Bitcoin for oil and gas

Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker

Pavel Zavalny says "friendly" countries could be allowed to pay in the crypto-currency or in their local currencies, Qazet.az reports.

Earlier this week, Russian President Vladimir Putin said that he wanted "unfriendly" countries to buy its gas with roubles.

The move is understood to be aimed at boosting the Russian currency, which has lost over 20% in value this year.

Sanctions imposed by the UK, US and the European Union, following the invasion of Ukraine, have put a strain on Russia's rouble and raised its cost of living.

However, Russia is still the world's biggest exporter of natural gas and the second largest supplier of oil.