Russia looking at pricing oil sales in euros-source
Wednesday October 8, 2003
YEKATERINBURG, Russia, Oct 8 (Reuters) - Russia is increasingly looking at pricing oil sales in euros instead of dollars, reflecting the euro's growing role as a reserve currency, German government sources said on Wednesday.
"The question is taking on increasing significance," a person travelling with German Chancellor Gerhard Schroeder on an official visit to Russia said.
A switch into euros by Russia, the second biggest oil exporter behind Saudi Arabia with the world's largest natural gas reserves, would represent a major shift in the balance of currencies behind the world's most traded commodity.
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