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Putin says crypto currencies too unstable to be used for oil contracts
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moneycontrol.comRussian President Vladimir Putin said that crypto currencies were too unstable to be used to settle oil contracts but that they still deserved a place as a means of payment.
The Russian leader made the remarks in an interview with CNBC that was published on the Kremlin's website on Thursday. He was asked if he could see oil contracts being denominated in cryptocurrencies instead of dollars in future.
Russia has for years been trying to lower its dependence on the U.S. dollar, which is widely used to settle oil contracts, but it has not managed to achieve that on a large-scale even though some firms have switched to trading commodities in euros.
"It's too early to talk about that for now because cryptocurrency can of course be a payment unit,
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