PETROEUROS
December 1st, 2001
BY ALAN OSBORNEUROPEAN Commission officials believe that rapidly growing oil and gas shipments from Russia to the EU could in time pave the way for the adoption of the Euro as a petro-currency. Gerassimo Thomas, spokesman for the Commissioner in charge of the euro, Pedro Solbes, said that the Commission had considered pushing for the euro to be used globally to denominate the price of oil but "we can't tell the market how to behave."However the massive oil and trade deal at present under negotiation between the EU and Russia will be valued in euros and this could ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.