Russia looks at alternatives to dollar for energy transactions
Excerpt:
”Settling in roubles or euros would limit exposure to US, says economy minister”
"Russia is exploring currency settlements in euros and roubles for its vast energy exports in an attempt to avoid the dollar and insulate Moscow from the US-led global financial system.”
”Moscow has looked to offset its exposure to US economic sanctions through a “de-dollarisation” scheme that has seen the finance ministry’s bond programme issue all new debtin euros and roubles. The central bank has reduced its holdings of US treasury debt from $96bn to just $8bn in the past 18 months.”
https://www.ft.com/content/704cde6c-eb53-11e9-a240-3b065ef5fc55
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