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Gazprom considers selling oil & gas for roubles

Gazprom's Deputy Chairman Aleksandr Medvedev said his company is considering selling its gas and oil in roubles instead of dollars and euros. He made the comments at a news conference in New York.

He said the idea came some time ago “when it became clear the Russian rouble was a fully convertible currency.”

Medvedev also suggested the Russian rouble could become an international clearance currency.

“Some technical steps should be taken in order to make rouble like the dollar, the euro, the pound or any other freely convertible currency,” Gazprom's Deputy Chairman said.

“As soon as we prepare it, I do not see any reason why Russian export contracts could not be made in roubles if our customers are in the position to acquire necessary amounts of roubles at currency exchanges,” Medvedev stressed.