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 is

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets 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: