Russia To Price Oil in Euros in Snub to US !

Has this already been posted?

Russia to price oil in euros in snub to US

Russia is to start pricing its huge oil & gas exports in euros instead of dollars as part of a stragetic shift to forge closer ties with the European Union.

The Russian central bank has been amassing euros since early 2002, increasing the euro share of its $65 billion (£40 billion) foreign reserves from 10pc to more than 25pc, according to the finance ministry.

The move has set off a chain reaction in the private sector, leading to a 4-fold increase in euro deposits in Russian banks this yr & sending Russian citizens scrambling to change their stashes of greenbacks into euro notes.

German officials said Chancellor Gerhard Schroder secured agreement for the change-over on oil pricing from Vladimir Putin ... while on a trip to Russia this wk. ... con't

http://tinyurl.com/qe8u

I wondering if I should do this with some of my savings.

If you can make it through security you can exchange thousands there at the little windows. At least that's what they told me the last time I was passing through at Los Angeles International.

I've heard Australian dollars are a good bet, too.

The Euro used to be about 88 cents. Now (last I checked) it was 1.17.

Thanks Bush!

I confess I'm really ignorant about this. I've exchanged currency at the bank when I've traveled abroad, but don't know about larger sums.

My personal protest to this administration....

Sounds like a good move.

If you're asking that kind of question then you don't know enough to make sound transnational investments on your own.

Talk to a financial advisor. Yes, it will cost you, but the shirt you save will be your own.

have done, who may have already explored this issue.

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