Russia and the European Union are discussing the possibility to increase the volume of settlements in euros or rubles, and the number of settlements in euros is already gradually growing, Russia's Permanent Representative to the EU Vladimir Chizhov has said in an interview with Sputnik
BRUSSELS (Pakistan Point News / Sputnik - 12th February, 2020) Russia and the European Union are discussing the possibility to increase the volume of settlements in Euros or rubles, and the number of settlements in euros is already gradually growing, Russia's Permanent Representative to the EU Vladimir Chizhov has said in an interview with Sputnik.
While the EU has expressed the intention to boost trade in euros with its partners, the Dollar remains a "powerful weapon" of the United States, Chizhov said.
"Certainly. This topic is being discussed, including at the level of the leadership of the Russian government and the European Commission. We have dialogue, and the share of settlements is euros is gradually growing," Chizhov said, when asked whether Moscow and the bloc were discussing possible increase in settlements in euros or rubles.
Meanwhile, the settlements related to oil are traditionally conducted in Dollars, since the oil trade is channeled through the global market anyway, the envoy added.
"So, everything is not so easy, even despite the both sides' desire [to increase the number of settlements in euros or rubles], especially given that major European energy companies are not yet much willing to conduct settlements in euros," Chizhov went on to say.
