Russia is considering settling energy exports in euros and rubles
Economy News - Baghdad
MOSCOW (Reuters) - Russia is considering using alternatives to the dollar in energy deals and is considering adjustments in euros and rubles to limit exposure to the United States, Economy Minister Maxim Orshkin said.
"We have a very good currency. It's stable. Why don't we use it in global transactions," he said in an interview with the Financial Times on Sunday.
"We want (gas and oil sales) to be in rubles at some point," he said.
Russia will be able to sell energy exports in local currency as domestic bonds are booming among foreign investors, who hold 29 percent of the ruble's debt, Orshkin said.
Russia has tried to reduce exposure to the United States through a policy of reducing dependence on the dollar to ease the impact of US sanctions.
Russian assets came under pressure after the first round of Western sanctions imposed in 2014 after Moscow annexed Crimea from Ukraine.