Putin says crypto currencies too unstable to be used for oil contracts

Russian President Vladimir Putin speaks during a plenary session of the Russian Energy Week International Forum in Moscow, Russia October 13, 2021. Sputnik/Mikhail Metzel/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

MOSCOW (Reuters) - Russian 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.