[A-List] RUSSIA ENERGY EXPORT MAY SOON SHIFT FROM DOLLAR TO EURO

["Gary Santos" <evs@xxxxxxxxxxxx>]

----- Original Message -----
From: "tonydcco" <tonydcco@xxxxxxxxx>

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=34572

Rumor Mill News Reading Room Forum

RUSSIA ENERGY EXPORT MAY SOON SHIFT FROM DOLLAR TO EURO

Posted By: Rosalinda
Date: Thursday, 24 July 2003, 9:26 a.m.

Source: German, Russian media, July 21-22]

RUSSIA MAY SOON SHIFT FROM DOLLAR TO EURO,
IN BILLING ITS ENERGY EXPORTS TO EUROPE.

As this week's issue of Germany's Der Spiegel reports
in an article on European self-assertion against
the Bush Administration-run United States, EU Commission
President Romano Prodi told journalists in early July that he
expects Russia to soon handle its crude oil and natural gas
exports to the EU in euros, instead of dollars.

Russian President Vladimir Putin wants that to "drastically
upgrade relations to Europe," Prodi said, referring to close
contacts he has to Russian policy-making circles. Hints in this
direction have repeatedly been made, earlier, in Russian media,
but this is the first time a leading European Union politician
confirmed it.

[Source: German, Russian media, news archives, July 21-22]

EU AND RUSSIA MAY FINALLY REALIZE THEIR "STRATEGIC ENERGY
PARTNERSHIP," AFTER THREE YEARS OF TALKS.

Discussion to go ahead
with the project has been conducted since the Paris EU-Russia
Summit in October 2000, but remained inconclusive for two main
reasons:

1) the disinterest of the EU bureaucracy in breaking
with free market rule and going for long-term state-to-state
agreements between EU and Russia;

2) the disinterest of the
Russian energy oligarchs, based on (partially, illusionary)
expectations that free market dealings would yield more revenue.
Recent legal moves by the Putin entourage against the oligarchs
may help to contribute to a "rethinking" on the side of the
energy firms.

At the recent St. Petersburg (EU-Russia) and Athens (EU)
summits, decisions have been taken that indicate that the talks
about that strategic partnership will be accelerated now:

* The EU is going to propose the establishment of four main
corridors for oil imports from Russia, partially through an
upgrading of existing pipelines, but also construction of some new
ones:

1) Drushba North, via Poland; 2) Odessa-Brody-Plock,
across Poland; 3) Constanta-Triest, via Romania/Serbia/Croatia;
4) Bourgas-Alexandropoulis, via Bulgaria/Greece;

* The establishing of a mixed expert team, to work out
details of proposals for the EU-Russia deals;

* An energy conference in Moscow in October;

* Energy cooperation ranking on top of EU-Russia Summit in Rome, in
November.

Related is also the bilateral energy cooperation summit
Germany-Russia, in September.

Interesting in this context are
remarks made by EU Commission President Romano Prodi, in a
meeting with journalists in Brussels in early July, that he
expects the Russians to soon shfit from dollar to euro, in
billing their entire oil and gas exports to Europe.



------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges & Refill Kits for Your Epson at Myinks.com
Free shipping on orders $50 or more to the US and Canada.
http://www.c1tracking.com/l.asp?cid=5705&lp=home/epson.asp
http://us.click.yahoo.com/brYXfA/_xWGAA/ySSFAA/qkHolB/TM
---------------------------------------------------------------------~->

TNF has two guidelines designed to maintain a positive tone.

(1) If you take offense at another member's message, write to that person
privately; if you think the moderators should be informed, CC your private
message to thenewforum-owner@xxxxxxxxxxxxxxxx

(2) Avoid on-list meta-discussions or co-moderation; address such matters to
the individuals involved and/or to the moderators.



Address to unsubscribe: TheNewForum-unsubscribe@xxxxxxxxxxxxxxx





Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/