Gazprom signs agreements to switch from dollars to euros

Gazprom now marches on ignoring US grandstanding.

So previous payments formally in dollars will now be in Euro's and who will complain. It also means that Russia will spend more on European based goods priced in Euro than those in dollars.

© ITAR-TASS/Mikhail Dzhaparidze

ITAR-TASS News Agency
6 June 2014

MOSCOW - Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company's head Alexander Dyukov told a press conference.

"Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in roubles are agreed on," he said.

Dyukov said nine of ten consumers had agreed to switch to euros.

ITAR-TASS reported earlier that Gazprom Neft considered the possibility to make payments in roubles under contracts. Some contracting parties agree to switch from dollars to euros and Yuans.

"The so-called Plan B is already partially worked out. The switch of dollar contracts to euros and Yuans is agreed on with some of our contracting parties. Under consideration is the possibility to switch contracts to roubles," Dyukov said at the St. Petersburg International Economic Forum.

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