• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Crypto Can’t Yet Replace Dollar In Settling Oil Trades – Putin

Crypto Can’t Yet Replace Dollar In Settling Oil Trades – Putin

9 months ago
Congolese Community Joins Pope For Mass At Vatican

Congolese Community Joins Pope For Mass At Vatican

6 hours ago
Our Twitter, YouTube Accounts Compromised — British Army

Our Twitter, YouTube Accounts Compromised — British Army

7 hours ago
Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

11 hours ago
NCDMB
ADVERTISEMENT
Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

12 hours ago
Egypt Orders Closure Of Red Sea Beaches As Australian Woman Dies In Shark Attack

Egypt Orders Closure Of Red Sea Beaches As Australian Woman Dies In Shark Attack

12 hours ago
NCDMB, IOCs Partner To Develop Oil, Gas Parks

NCDMB, IOCs Partner To Develop Oil And Gas Parks

12 hours ago
Ronaldo To Force Man United Exit Over Champions League Football

Ronaldo To Force Man United Exit Over Champions League Football

15 hours ago
Mikel Snubs Mourinho, Reveals His Best Chelsea Manager Ever

Mikel Snubs Mourinho, Reveals His Best Chelsea Manager Ever

16 hours ago
AWCON Hosts Morocco Off To Winning Start Against Burkina Faso

AWCON Hosts Morocco Off To Winning Start Against Burkina Faso

17 hours ago
UFC: Adesanya Defeats Cannonier To Retain Middleweight Title

UFC: Adesanya Defeats Cannonier To Retain Middleweight Title

18 hours ago
Nigeria: Police Rescue 77 Worshippers Waiting For Rapture In Ondo Church

Nigeria: Police Rescue 77 Worshippers Waiting For Rapture In Ondo Church

21 hours ago
Democracy Day: Leaders Must Be Servants – Diri

US Visit: Bayelsa, New Jersey To Collaborate On Investment Opportunities

1 day ago
Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

1 day ago
Former Apple CEO Steve Jobs, gymnast Simone Biles and actor Denzel Washington are among this year’s Presidential Medal of Freedom recipients.

Biles, Denzel Washington, Steve Jobs Among Winners Of Top US Honor

1 day ago
Nigeria: Former President Obasanjo Rides ‘Keke’ To Mark 85th Birthday

Nigeria: Former President Obasanjo Rides ‘Keke’ To Mark 85th Birthday

1 day ago
Migration Is A Catalyst For Development – Dabiri-Erewa

Migration Is A Catalyst For Development – Dabiri-Erewa

1 day ago
Gov. Diri Hails Victorious State Basketball Teams

Gov. Diri Hails Victorious State Basketball Teams

1 day ago
Burundi Celebrates 60 Years Of Independence

Burundi Celebrates 60 Years Of Independence

2 days ago
Pope Francis country, Argentina legalizes abortion

Again, Pope Postpones Trip To Africa, Apologises To DRC, South Sudan

2 days ago
9 Health Benefits Of Garden Egg

9 Health Benefits Of Garden Egg

2 days ago
ADVERTISEMENT
Monday, July 4, 2022
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact
The Heritage Times
No Result
View All Result
Translate | EN FR
  • Login
  • Politics
    Nigeria: Seven Things You Should Know As Voter Registration Continues

    Nigeria: Seven Things You Should Know As Voter Registration Continues

    Tunisia Draft Constitution Widens President's Powers

    Tunisia Draft Constitution Widens President’s Powers

    Israeli Parliament Dissolves Itself, Sets November 1 Election

    Israeli Parliament Dissolves Itself, Sets November 1 Election

    Sudan's Military Cuts Off Internet Ahead Of Protests

    Sudan’s Military Cuts Off Internet Ahead Of Protests

    Nigerian Deputy Senate President Picks 42-Year-Old Osanebi As Running Mate For Delta State Guber Election

    Nigerian Deputy Senate President Picks 42-Year-Old Osanebi As Running Mate For Delta State Guber Election

    Insecurity: Drop Your Pride, Seek Foreign Help! - Ekweremadu Tells FG

    Alleged Organ Harvesting: Nigeria’s Senate Dispatches Delegates To UK

    Use Your Talent To Improve National Unity - Jonathan Urges Young Nigerians

    Nigeria: Why I Didn’t Implement Report Of 2014 National Conference – Ex-President Jonathan

    JUST IN: Justice Ariwoola Sworn In As Acting Chief Justice Of Nigeria

    JUST IN: Justice Ariwoola Sworn In As Acting Chief Justice Of Nigeria

    Obasanjo Blames Leadership for Education Inequalities

    Nigeria: Picking A Vice President In 1999 Was A Big Mistake – Ex-President Obasanjo

  • Economy
    Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

    Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

    NCDMB, IOCs Partner To Develop Oil, Gas Parks

    NCDMB, IOCs Partner To Develop Oil And Gas Parks

    Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

    Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

    Sierra Leone: President Bio Reiterates Commitment To Cushion Impact Of Fuel Importation

    Sierra Leone: President Bio Reiterates Commitment To Cushion Impact Of Fuel Importation

    Duport Modular Refinery To Commence Operation In July - NCDMB Boss

    Duport Modular Refinery To Commence Operation In July – NCDMB Boss

    World Bank Advocates Debt Relief For Countries Owing Over $8.7trn

    Nigeria Risks Financial ‘Blockade’, Frosty Relations With Funders

    Zimbabwe: Investors Excited As Government Set To Introduce Gold Coins

    Zimbabwe: Investors Excited As Government Set To Introduce Gold Coins

    Dozens arrested in Ghana's cost of living protest

    Dozens Arrested In Ghana’s Cost Of Living Protest

    Why Price Of Cooking Gas Increased Across Nigeria – Marketers

    Why Price Of Cooking Gas Increased Across Nigeria – Marketers

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Nigeria: Seven Things You Should Know As Voter Registration Continues

    Nigeria: Seven Things You Should Know As Voter Registration Continues

    Tunisia Draft Constitution Widens President's Powers

    Tunisia Draft Constitution Widens President’s Powers

    Israeli Parliament Dissolves Itself, Sets November 1 Election

    Israeli Parliament Dissolves Itself, Sets November 1 Election

    Sudan's Military Cuts Off Internet Ahead Of Protests

    Sudan’s Military Cuts Off Internet Ahead Of Protests

    Nigerian Deputy Senate President Picks 42-Year-Old Osanebi As Running Mate For Delta State Guber Election

    Nigerian Deputy Senate President Picks 42-Year-Old Osanebi As Running Mate For Delta State Guber Election

    Insecurity: Drop Your Pride, Seek Foreign Help! - Ekweremadu Tells FG

    Alleged Organ Harvesting: Nigeria’s Senate Dispatches Delegates To UK

    Use Your Talent To Improve National Unity - Jonathan Urges Young Nigerians

    Nigeria: Why I Didn’t Implement Report Of 2014 National Conference – Ex-President Jonathan

    JUST IN: Justice Ariwoola Sworn In As Acting Chief Justice Of Nigeria

    JUST IN: Justice Ariwoola Sworn In As Acting Chief Justice Of Nigeria

    Obasanjo Blames Leadership for Education Inequalities

    Nigeria: Picking A Vice President In 1999 Was A Big Mistake – Ex-President Obasanjo

  • Economy
    Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

    Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

    NCDMB, IOCs Partner To Develop Oil, Gas Parks

    NCDMB, IOCs Partner To Develop Oil And Gas Parks

    Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

    Libyan Protesters Storm, Set Fire To Parliament Building In Tobruk

    Sierra Leone: President Bio Reiterates Commitment To Cushion Impact Of Fuel Importation

    Sierra Leone: President Bio Reiterates Commitment To Cushion Impact Of Fuel Importation

    Duport Modular Refinery To Commence Operation In July - NCDMB Boss

    Duport Modular Refinery To Commence Operation In July – NCDMB Boss

    World Bank Advocates Debt Relief For Countries Owing Over $8.7trn

    Nigeria Risks Financial ‘Blockade’, Frosty Relations With Funders

    Zimbabwe: Investors Excited As Government Set To Introduce Gold Coins

    Zimbabwe: Investors Excited As Government Set To Introduce Gold Coins

    Dozens arrested in Ghana's cost of living protest

    Dozens Arrested In Ghana’s Cost Of Living Protest

    Why Price Of Cooking Gas Increased Across Nigeria – Marketers

    Why Price Of Cooking Gas Increased Across Nigeria – Marketers

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
Morning News
ADVERTISEMENT
Home Economy

Crypto Can’t Yet Replace Dollar In Settling Oil Trades – Putin

October 14, 2021
in Economy, Top Stories, World
0
Crypto Can’t Yet Replace Dollar In Settling Oil Trades – Putin

Russian President, Vladimir Putin.

31
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

By John Ikani 

Russian President, Vladimir Putin believes that it’s “still premature” to use cryptocurrencies for settling trades of energy resources like oil.

Relatedreading

Congolese Community Joins Pope For Mass At Vatican

Our Twitter, YouTube Accounts Compromised — British Army

Putin’s comments comes months after Russia’s Deputy Prime Minister, Alexander Novak, suggested that the country could move away from greenback-denominated crude contracts if the US continues to impose targeted economic sanctions.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

“Cryptocurrency oil contracts? It’s too early to talk about it. It works for transferring funds from one place to another, but in terms of trading, especially when it comes to energy resources, it is still premature in my opinion,” the president stated in an interview with CNBC that was posted on the Kremlin’s website Thursday.

Putin went on to say that “everything evolves” and “has the right to exist,” adding that the Russian government is closely monitoring the cryptocurrency market.

He also did not exclude the possibility that at some point, cryptocurrencies will become a “means of accumulation.” “We see how his market fluctuates. It’s a bit early today,” Putin added.

The Russian leader however flagged cryptocurrencies’ massive consumption of energy as a potential barrier to their use. Bitcoin requires lots of computing power to process transactions and mint new tokens.

It is worthwhile to note that Russia has sought alternatives to trading in dollars since being slapped with sanctions in 2014 following the annexation of Crimea, and Putin accuses the U.S. of using its currency as a weapon. Crypto backers argue decentralized money will eventually replace fiat currencies issued by central banks.

Putin’s tolerance of cryptocurrency comes as the White House considers launching a broad initiative to review and coordinate crypto policy across President Joe Biden’s administration that could lead to new regulations. China this year has cracked down on the industry and in September banned all crypto transactions.

Tags: DollarOil TradesRussiaVladimir Putin
ShareTweetSendShare
ADVERTISEMENT
Previous Post

Local Content: Nigerian Govt Directs MDAs To Prioritize Indigenous Professionals

Next Post

Nigeria Launches Eurobond In New York

Related Posts

Congolese Community Joins Pope For Mass At Vatican

Congolese Community Joins Pope For Mass At Vatican

July 3, 2022
Our Twitter, YouTube Accounts Compromised — British Army

Our Twitter, YouTube Accounts Compromised — British Army

July 3, 2022

Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

Egypt Orders Closure Of Red Sea Beaches As Australian Woman Dies In Shark Attack

NCDMB, IOCs Partner To Develop Oil And Gas Parks

Next Post
Nigeria Launches Eurobond In New York

Nigeria Launches Eurobond In New York

Discussion about this post

Heritage Bank

Updates

  • Trending
  • Comments
  • Latest
Elon Musk’s Child Files To Change Gender, Name And End Relationship With Father

Elon Musk’s Child Files To Change Gender, Name And End Relationship With Father

June 21, 2022
Nigeria: Explosives Planted By Boko Haram Kill 6 Terrorists In Borno

Nigeria: Boko Haram Kills 17 Officers, Abducts 4 Chinese Expatriates In Attempt To Seize Shiroro Power Station

June 30, 2022
You Are The Best In Africa – Eto’o Charges Cameroon Women Team Ahead Of WAFCON

You Are The Best In Africa – Eto’o Charges Cameroon Women Team Ahead Of WAFCON

June 27, 2022
‘I Have Been Dead Inside For Too Long’ – Young Photographer Writes In Emotional Suicide Note

‘I Have Been Dead Inside For Too Long’ – Young Photographer Writes In Emotional Suicide Note

June 24, 2022
Congolese Community Joins Pope For Mass At Vatican

Congolese Community Joins Pope For Mass At Vatican

July 3, 2022
Our Twitter, YouTube Accounts Compromised — British Army

Our Twitter, YouTube Accounts Compromised — British Army

July 3, 2022
Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

July 3, 2022
Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

July 3, 2022
NCDMB

Most Recent

Congolese Community Joins Pope For Mass At Vatican

July 3, 2022

Our Twitter, YouTube Accounts Compromised — British Army

July 3, 2022

Security Concerns, Restoration Of Civil Rule In Libya, Others Dominate Discourse As ECOWAS Leaders Meet In Ghana

July 3, 2022

Algeria Hikes Price Of Gas Exports Amid More Demand From Europe

July 3, 2022

Egypt Orders Closure Of Red Sea Beaches As Australian Woman Dies In Shark Attack

July 3, 2022

NCDMB, IOCs Partner To Develop Oil And Gas Parks

July 3, 2022

Ronaldo To Force Man United Exit Over Champions League Football

July 3, 2022

Mikel Snubs Mourinho, Reveals His Best Chelsea Manager Ever

July 3, 2022
HOUSE FORTY THREE RESTAURANT
MOSILO GROUP
ADVERTISEMENT

About

The Heritage Times was established to advance transparency and accountability in leadership and governance. Our vision is to become Africa's foremost provider of quality news and contents. We seek to lead a news media revolution that will foster a sustainable democratic Africa.

Featured

Nigeria: Seven Things You Should Know As Voter Registration Continues

#ReformIELTSPolicy: UK Envoy’s Statement Justifies Advocacy For Nigeria’s IELTS Exemption, Says Group

Robert Azibaola: Saving Bayelsa’s Rainforests

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

    • About
    • Privacy Policy

    © 2022 The Heritage Times Media.

    No Result
    View All Result
    • Welcome
    • Politics
    • Economy
    • Security
    • Exposé
    • Education
    • Sports
    • Health
    • Entertainment
    • Legal
    • Technology and Science
    • Opinion
    • Columns
    • World
    • __________________
    • Photo Speaks
    • Videos
    • You-Report
    • Whistleblower
    • Advertise
    • HT Events
    • About HT
    • Contact us

    © 2022 The Heritage Times Media.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In