Friday, May 12, 2006

Oil and Gas: Russia considers rouble-denominated petroleum exchange in 2007

Arkady Dvorkovich, of Russia's Ministry for Economic Development and Trade, has said that Russia could launch a rouble-denominated petroleum exchange in 2007.

According to Itar-Tass news agency, the idea had been suggested the previous day in President Vladimir Putin's address to the nation in which he said, "the rouble must become a more universal method of payment on international exchanges and must expand its influence."
Dvorkovich said that the next stage would be to open a gas exchange.