FILE PHOTO: Russian Economy Minister Maxim Oreshkin attends a session of the Moscow Financial Forum in Moscow, Russia September 6, 2018. REUTERS/Sergei Karpukhin/File Photo
October 13, 2019
(Reuters) – 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 a 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?”
(Reporting by Kanishka Singh in Bengaluru; Editing by Paul Tait)
