Russia oil in euros
Russian state-controlled oil producer Gazprom said its preliminary moves to sell gas for euros instead of dollars was moving forward. In e-mailed comments reported by Reuters, Gazprom chief Alexander Dyukov said that 95 percent of those under contract with the company were ready to make the switch. At the end of last year, Russia’s oil firms were said to be demanding penalty clauses and payments in euros instead of U.S. dollars in their annual renegotiation of oil supply contracts with Russia’s largest oil company Rosneft has set the euro as the default currency for all new exports of crude oil and refined products, as the state-controlled giant looks to switch as many sales as Last year Russia entered into negotiations with Germany over the establishment of an exchange to sell oil futures denominated in euros. Russia, which on some measures is the world's Number 1 oil The price of oil and Russia's economy have the opposite relationship. When oil prices drop, Russia suffers greatly. Oil and gas are responsible for more than 60% of Russia's exports and provide more than 30% of the country's gross domestic product (GDP). The chief executive of Rosneft, Russia's largest oil company, Igor Sechin said the company had fully switched to using the euro in its contracts instead of the dollar, in a move aimed at protecting its dealings from US sanctions. Russia's Rosneft, one of the world's top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading
President Vladimir Putin said Thursday Russia could switch its trade in oil from dollars to euros, a move that could have far-reaching repercussions for the global balance of power -- potentially hurting the U.S. dollar and economy and providing a massive boost to the euro zone.
24 Oct 2019 Russia's largest oil producer Rosneft has fully switched its contracts to euros from U.S. dollars, Rosneft CEO Igor Sechin announced on 2 Oct 2019 Russia's state oil giant Rosneft tendered to sell a cargo of crude, asking would-be buyers to pay in euros for the consignment, just weeks after 7 Oct 2019 Russia dumps U.S. dollar: Country's top oil producer chooses euro for Russia's Rosneft, is ditching the U.S. dollar for euros when it comes to 27 Oct 2019 Workers at a Rosneft oil field in Nefteyugansk, Russia. Reuters. Russia's energy companies have switched currency of their contracts to euros
13 Oct 2019 Russia exploring currency settlement in euros, roubles for energy exports - FT “ We want (oil and gas sales) in roubles at some point,” he was
22 Aug 2019 At the end of last year, Russia's oil firms were said to be demanding penalty clauses and payments in Euros instead of U.S. dollars in their annual 23 Aug 2019 Russian oil producer and exporter Rosneft has notified customers future tender contracts for oil products will be denominated in euros not 13 Oct 2019 Russia exploring currency settlement in euros, roubles for energy exports - FT “ We want (oil and gas sales) in roubles at some point,” he was Igor Sechin Reports to the President of the Russian Federation on the Company's Vladimir Putin has held a working meeting with Rosneft Oil Company Chief
13 Oct 2019 Russia exploring currency settlement in euros, roubles for energy exports - FT “ We want (oil and gas sales) in roubles at some point,” he was
China, Russia, Japan and several of the most powerful Gulf States are actively plotting to end the decades-old practice of buying and selling oil in dollars, the Independent claimed today. The newspaper said the plan is for the US currency to be replaced for trading oil by a basket of currencies,
5 days ago Russia's oil-market war with Saudi Arabia is part of a strategic campaign to cripple U.S. shale-oil production, a powerful economic tool that
24 Oct 2019 Russia's largest oil producer Rosneft has fully switched its contracts to euros from U.S. dollars, Rosneft CEO Igor Sechin announced on
Russia's Rosneft, one of the world's top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading The chief executive of Rosneft, Russia's largest oil company, Igor Sechin said the company had fully switched to using the euro in its contracts instead of the dollar, in a move aimed at protecting its dealings from US sanctions. Rosneft is the biggest oil exporter from Russia, selling around 2.4 million barrels per day (bpd) of oil, according to Reuters estimates. In the latest tender for a spot sale of 100,000 tons of Urals blend loading from the port of Primorsk at the end of October, Rosneft specifies that the default currency in the payment should be in euros, according to the tender document cited by Reuters.