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Russia exploring currency settlement in euros, roubles for energy exports - FT


Russia exploring currency settlement in euros, roubles for energy exports - FT
Representative Picture. Image Credit: StoryBlocks

Economy Minister Maxim Oreshkin told the Financial Times that Russia is looking at alternatives to the U.S. dollar for energy transactions and is exploring currency settlements in euros and roubles for its energy exports to minimize U.S. exposure.

"We have very good currency, it's stable. Why not use it for global transactions?" Oreshkin said in the interview with FT published on Sunday.

"We want (oil and gas sales) in roubles at some point," he was quoted as saying. "The question here is not to have any excessive costs from doing it that way, but if the broad ... financial infrastructure is created, if the initial costs are very low, then why not?"

Also Read: Russia rolls out the red carpet for Huawei over 5G

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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