Russian oil firm seeks alternative to dollars, Reuters says

Section:

By Gleb Gorodyankin and Olga Yagova
Reuters
Wednesday, September 19, 2018

MOSCOW -- Russian oil producer Surgutneftegaz is pushing buyers to agree to pay for oil in euros instead of dollars if the need arises, apparently as insurance against possible tougher U.S. sanctions, traders who deal with the firm told Reuters.

... Dispatch continues below ...



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Russia has been subject to Western sanctions since its 2014 annexation of Ukraine's Crimea region, but Washington has threatened to impose extra sanctions, citing what it has called Moscow's "malign" activities abroad.

The prospect that causes most alarm for Russian firms is inclusion on a Treasury Department blacklist that effectively cuts them off from conducting transactions in dollars, the lifeblood of the global oil industry. ...

... For the remainder of the report:

https://www.reuters.com/article/us-russia-surgut-sanctions-exclusive/exc...

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