russia to switch some oil trading to rubles

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    February 25, 2008

    MOSCOW: Russia, the world's second-largest oil-exporting nation after Saudi Arabia, has been quietly preparing to switch trading in Russian Ural Blend oil, the country's primary export, from the dollar to the ruble. But the change, if it comes, is still some time off, industry analysts and officials said.

    http://www.iht.com/articles/2008/02/25/business/place.php

    And,
    FEBRUARY 25, 2008

    Greenspan Tells Gulf To Drop Dollar.

    Alan Greenspan, the former chairman of the US central bank, or Fed, has said that inflation rates in Gulf states, which are reaching near record levels, would fall "significantly" if oil producers dropped their US dollar pegs.

    http://english.aljazeera.net/NR/exeres/FC515689-75CC-4121-BD37-2A84E5BF0C60.htm

 
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