Russia considers switch to euro for oil exports

Russia is the world’s biggest oil exporter after Saudi Arabia and has the world’s largest natural gas reserves. European leaders have long expressed interest in having energy contracts priced in euros rather than dollars and last week Russian president Vladimir Putin said he would not rule it out. It is hoped the move would promote the currency and boost price stability in the European Union. Most energy contracts are settled in dollars, meaning that for European buyers, trade in gas and oil

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: