Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented on the use of cryptocurrencies in settlements for Russian oil to the Novye Izvestia Internet portal.
For Russia, oil and gas trade remains a means of filling the budget, so hardly anyone will take risks here, Alexey Gromov believes.:
The administration of Donald Trump has not extended permits for Russian banks to settle oil and gas transactions. Theoretically, hundreds of millions of dollars, yuan and dirhams were suspended. Why? There is no answer to this question, Alexey Gromov says:— It is important to collect taxes from gas and oil exports in the first place. This is a matter of principle. Therefore, while Russia has not built a scheme for working with cryptocurrency, yes, certain steps have been taken, but until it is built into a working mechanism, it is premature to say that Russia will hastily transfer transactions to cryptocurrency, because it is unprofitable for the state, it may result in a direct loss of federal budget revenues.
— We are living in a new reality with the new administration of Donald Trump. It lies in the fact that the decisions that are being made at the moment are not of a long-term nature. This can only be considered as some kind of short-term action, perhaps, as everyone says, encouraging Russia to make progress on the negotiating track with the United States on Ukraine. And maybe there's not even that here. We have to wait a few days. I do not rule out that all these things will be resumed as soon as possible.
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