Gazprom signs agreements to switch from dollars to euros

One of Russia's biggest oil supplier companies Gazprom Neft (Russian) is attempting to convert current (and future) contracts away from U.S. Dollar denominations.

Russia's Gazprom Neft seems to prefer their home money Rouble along with Euros and Yuans.

Big change.

I wonder what the impact will be?

This is from a Russian source and they claim 9 out of 10 consumers agree on the Euro.

Nine of ten consumers had agreed to switch to euros, may be later contracts will be switch to roubles, the oil company's head Alexander Dyukov says.

MOSCOW, June 06./ITAR-TASS/. 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.

Gazprom signs agreements to switch from dollars to euros


Gazprom Background....
Gazprom Neft (wiki)

a reply to: xuenchen

Great news, why on earth would europeans pay with dollars? sounds good!

a reply to: Necrose

I could be wrong, but last time I checked the Russians didn't consider themselves to be European in financial terms.

I don't know...just what I 👉 recall

originally posted by: ThePublicEnemyNo1
a reply to: Necrose

I could be wrong, but last time I checked the Russians didn't consider themselves to be European in financial terms.

I don't know...just what I 👉 recall

I meant CONSUMERS mate... like EU states using Euro
We (the citizens of the great EU superstate ) don't even consider Russia as a european nation, don't worry mate.

Oh god, I'm using 'mate' quite often, that makes me sound a li'l bit like a gangster from South London... geeez

No world currency lasts forever...

a reply to: xuenchen

I noticed its for customers in Belarus however, if this spreads then the US$ is in trouble along with the US economy. Its because partly because people had to buy $s that the USA became so rich as everyone had to buy its currency to buy oil etc. Once this changes and people elect to buy their power/oil whatever in other currencies then the fireworks start as the USA will loose this very easy extra to their coffers.

Also if it spreads further outside of Russia it could split the USA away from Europe because Euros are the European currency and self interest in this time of recession can't go ignored.

People haven't forgotten that it was trouble in the American property market that started the banking problems which have affected everyone's lives adversely (except those parasites that caused it). Also now Snowden has leaked that 9/11 could have been averted as it was known and allowed to happen, that I would wonder if Americans would not be surprised to see other people shun the USA money houses, Government and its sycophants.

originally posted by: Elton
No world currency lasts forever...

Oh no, american corporations and their sheeple going bonkers.

Bring on the new currency! TIME TO RISE.

a reply to: xuenchen

This might be a sign we are rediscovering the road to peaceful relations with our Russian neighbours afterall, now that Russia announced it is not going to retaliate against US-led western sanctions (simply because there is no need to) and an the situation in Ukraine has calmed down (slightly).

a reply to: Necrose


All well and good friend 👍 Point taken

Saddam Hussein tried to convert to dealing in Iraqi Dinar and Euros and look what happened, The American government murdered over 3000 of it's own citizens and waged a war to control the Iraqi oil fields.

If this Russian deal goes through Americans should brace themselfs for another major "terrorist attack" or some form of attack.

If the deal does go through though it would lower fuel prices over here in Europe.

a reply to: NeoSpace

You don't think that too many people today are aware of America's false flag strategy? Snowdon has opened the door wide on the dirty basement of American politics and a few other allied nations and I would wonder if many wouldn't first look to the gains, by who, and at what cost to their young men and women?

I do think that when in the UK our Forces have to advertise for recruits and utilise the reserves into operation, its a sign that people are not so stupid as to want to soldier or follow the call to arms (especially when those who make the call never face the front line or injury to themselves; after all who has ever threatened to invade the USA, apart fromillegal immigrants wanting a better life? So why should they simply protect and give up their lives or limbs for the parasites that start and manipulate wars and their own Government members who are connected to banks that give money to both sides, against their own soldiers?

The water is getting clearer by the day and the bottom feeders haven't got so many places to hide.

American Dollar is already almost worthless, as they print it almost as fast as they spend it

Its based on nothing, and is worth nothing

Soon, it will just all be used for starting fires

Firstly....what improvement is the Euro over the Dollar?
Either currency is pretty shakey right now.......
The European Union is fragmenting faster than its finding any unity....
The US dollar is nearly defunct as they keep making more every day....lessening the value of those already out there......
The way out of Russias domination would be to find zero point energy or develope the Leviathan gas Fields off Cyprus

a reply to: Xcouncil=wisdom

90-95% of US notes printed every year are actually to replace tattered bills. E.g. a $10 bill only lasts about 4 years in circulation before being replaced.

a reply to: TheLegend

You believe they actually print real bills for all of the trillions in circulation globally?

Have any idea how much paper and ink that would take?

Not to mention the trillions in debt, and nearly 200 trillion in unfunded liabilities.

It's all good, we can just keep printing more right?

originally posted by: TheLegend
a reply to: Xcouncil=wisdom

90-95% of US notes printed every year are actually to replace tattered bills. E.g. a $10 bill only lasts about 4 years in circulation before being replaced.

It's not so much the actual "printing" of currency.

It's the printing and selling of Treasury Securities as well as bank loans that all get "accounted" and "balanced" in ledgers.

Most is done "electronically".

Everything is Monetized Debt based.

wut the post I responded to was about "print" and "starting fires" with it = the pyromaniac was clearly masturbating and talkin about print only and so I focused on print to foil his wet dreams. My bad for not elaborating on the U.S. monetary system from A-Z, I'll keep that in mind for next time chief.

ETA: can one of u gents direct me on how to change avatars? Been a while and they changed #.
ETA x2: nvm, nailed it.

I really do not understand why people think this is a big deal.

The United States Dollar is just one of many reserve currencies.

What is a reserve currency?

A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves, and that is commonly used in international transactions.

Other reserve currencies -

* - US Dollar
* - Euro
* - Pound Sterling
* - Yen
* - Swiss Franc
* - Canadian Dollar

Reserve currencies date back to the B.C. era. That system developed over the millenniums to what we have in place now (Reserve Currencies and Central Banks).

Russia and China both have suggested a new reserve currency based on their currencies.
The United Nations has suggested a new "non national" currency that is less affected by the ebb and flow of foreign relations, conflict etc.

In addition to reserve currencies there are a lot of nations, going back 20+ years, that already have agreements with their trading partners to use local currencies.

As for China I don't think they are going to get much support for their currency use since they have been caught over the years manipulating their currency to give their business's a boost, to create a trade surplus while undermining their trading partners. They have failed to comply with the requirements they agreed to when they joined the WTO (free floating their currency).

Finally China also got caught misreporting their national financial status. They excluded debt from cities close to the tune of around a trillion dollars.

Out of curiosity what incentive do other countries have to use Russian or Chinese currency? Russia invaded Ukraine and annexed Crimea. They have been belligerent to their neighbors as have China.

Why would they, Russia and China, think making a new reserve currency based on themselves would be accepted?