In an effort to promote the euro in oil and commodities trading, the European Union convened an industrial working group with the objective of looking into how to replace the US dollar in certain transactions.
The group involves executives from European energy giants, including OMV, Eni, Fluxys, and Engie; all of which are part of a group that reflects the preference of the European Commission for a market-led strategy driven by viable alternatives to the use of the US dollar.
“The EU is t...
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